Coronavirus Relief Funds for Farm Business Management Scholarships
Today I received an email news release from the Minnesota Department of Agriculture about a new Farm Business Management Scholarship Program. The funds came from the CARES Act or the federal Coronavirus Aid, Relief, and Economic Security Act. The scholarships are targeted for farmers "negatively affected economically by COVID-19. Priority will be given to farmers engaged in any stage of mediation or bankruptcy between March 2, 2020 and December 30, 2020."
These scholarships will cover about 75 percent of the cost of tuition of the Farm Business Management Program offered at the Minnesota State Colleges and University system. I am sure all Farm Business Management Instructors are aware of these scholarships offered by the Minnesota Department of Agriculture so touch base with any of them. You can also email Brad Schloesser at: email@example.com.
The recant rally in corn and bean prices sure have helped grain farmers plus the CFAP one and CFAP two payments made to farmers have also helped a lot. I was talking with one Ag Banker I know and he mentioned how helpful they were. It had been really tough for dairy farmers and he had a customer they were in the mediation program. After the two rounds of CFAP payments the dairy farmer got his loan up to date and his working capitol ratios were back in line. He no longer needed the mediation program!