119th (2025–2027)
H.R. 9974
The Young Farmer Success Act amends federal student loan law to allow farm and ranch workers to qualify for loan forgiveness through the Public Service Loan Forgiveness program. Currently, this forgiveness program is limited to people in traditional public service jobs like teaching and government work, but this bill expands it to include individuals employed full-time as workers or managers on qualifying farms and ranches. A qualified farm or ranch is defined as one earning at least $35,000 in gross revenue annually from agricultural product sales, with that threshold adjusted each year based on inflation. The bill does not specify new funding or establish a timeline for implementation beyond the effective date of 2026. This change would help young farmers manage their student debt while building careers in agriculture.