The Minnesota Department of Agriculture (MDA) has announced a new Farm Business Management (FBM) Scholarship Program funded through the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act.
Nearly $250,000 in scholarships will be available to 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 Dec. 30, 2020.
An estimated 350 Minnesota farmers are currently distressed due to COVID-19 impact, including farmers in mediation, bankruptcy, foreclosure and debt restructuring.
The FBM program offered by the Minnesota State Colleges and Universities system helps farmers manage their finances and learn how to navigate the complicated financial systems of farming.
The scholarships will cover approximately 75 percent of the cost of tuition.
To apply contact an FBM instructor. Applications will be available Nov., 6, 2020. Applicants must be registered for at least 10 credits for either fall, spring, or combination by Dec. 10, 2020.
Funding for this program is made available through the CARES Act, and is part of a $7.7 million plan announced earlier this month by Gov. Tim Walz and Lt. Gov. Peggy Flanagan to support agricultural producers, meat processors and farmers affected by the COVID-19 pandemic.
To learn more contact:
Director, Minnesota State Northern Agricultural Center of Excellence
Director, Minnesota State Southern Agricultural Center of Excellence