Breaking: Students to get even more loans paid off
- Thread starter UsualName
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A necessary development in a time of rising input prices, weather volatility, and declining yields.
If you are against black farmers getting debt relief then feel free to criticize this program.
DES MOINES, Iowa (AP) — The federal government has announced a program that will provide $1.3 billion in debt relief for about 36,000 farmers who have fallen behind on loan payments or face foreclosure.
First, it was debt-relief / loans for businesses that had to close due to lockdowns, then it was student loans, and now it's farmers.
What's or who is next ?
Now I'm curious about the percentage of Farmers that also had debt relief of their student loans. I have a friend that owns a farm in Nebraska and he went to Texas A&M University.
He's in debt with student loans up to his eyeballs.
wrbtrader
First, it was debt-relief / loans for businesses that had to close due to lockdowns, then it was student loans, and now it's farmers.
What's or who is next ?
Now I'm curious about the percentage of Farmers that also had debt relief of their student loans. I have a friend that owns a farm in Nebraska and he went to Texas A&M University.
He's in debt with student loans up to his eyeballs.
wrbtrader
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Just making the point that this debt relief program is for small farmers not for large agricultural organizations. A good number of these small farmers of minorities.
Trying to compare this in any manner to the student debt relief program is simply nonsensical.
USDA announces $1 billion debt relief for 36,000 farmers
https://apnews.com/article/biden-he...-agriculture-a520df60c52a704ec98098d56cf2ea18
Your opinion is that it is nonsensical but others might look at government debt relief for students and farmers as very comparable.
The biggest deception in America is that if you’re working or middle class and get a benefit from the government you’re some kind of a loser while if you’re rich and get a benefit from the government you’re some kind of a innovative genius.
eh...prolly a favor to Grassley. If oil can make record profits price gouging, what's agro's excuse?
So tell me do federal Student Loan programs have a long history of discriminating against black students --- you know, like how the federal USDA Farm Loan programs have a long history of discriminating against black farmers?
This farm loan forgiveness program is tied into the recent news in the past week that the USDA is "beginning the process of creating a program that will ultimately dole out $2.2 billion to farmers who have faced discrimination from the agency in the past". As far as I can tell they will try to tie the farmer loan forgiveness into this program. The funding comes out of the recent Democratic reconciliation bill to create the programs.
The process of giving $2.2 billion to farmers who faced discrimination begins soon
NPR - https://tinyurl.com/2p8fxp46
All of this is tied into the following...
Minority farmers sue U.S. government over repealed debt relief program
https://www.reuters.com/markets/com...over-repealed-debt-relief-program-2022-10-12/
WASHINGTON, Oct 12 (Reuters) - Black and other farmers of color filed a class action lawsuit against the U.S. government on Wednesday, claiming the recent repeal of a debt relief program that targeted them amounts to a breach of contract by the government.
The suit comes as the U.S. Department of Agriculture (USDA) is set to roll out an amended debt relief program, passed as part of the Inflation Reduction Act (IRA) in August, that allocates relief based on economic need rather than race.
USDA offers operating and ownership loans to farmers through its Farm Service Agency (FSA). The agency had previously said it would forgive loan debt held by farmers it describes as socially disadvantaged, in an attempt to compensate for decades of discriminatory lending practices that contributed to them losing land.
The definition includes Black, Native American, Hispanic and Asian farmers.
White farmers alleged discrimination and stalled the program with lawsuits. It was then repealed by the IRA, which instead included a debt relief provision based solely on economic need, angering some Black farmer groups.
(More at above url)
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Please see the below for more information:
https://apnews.com/article/biden-he...-agriculture-a520df60c52a704ec98098d56cf2ea18