Tuesday, March 5, 2024
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Questions Continue About Farm Kids and Financial Aid

Iowa Republican Senators Chuck Grassley and Joni Ernst are pressing the Department of Education for clarity regarding Question 22 on the new Free Application for Federal Student Aid. They’re especially concerned that the way the agency chooses to ask the question will force students to list the net worth of family farms as assets.

Current ambiguities could cut off farm kids from needed financial aid and make it less feasible for them to attend college.

“The question fundamentally misunderstands how the family farm operates, as the stream of revenue for crops and livestock varies significantly year-over-year, and assets cannot get cashed out to support a loan in the same capacity as traditional investments,” the senators wrote in a letter to the Education Department. “We reiterate our concern with the nature of this question and the lack of insight on how the adjusted formula will impact students from an agricultural background.”

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