New scholarships available for Minnesota’s beginning farmers
ST. PAUL, Minn. – The Minnesota Department of Agriculture (MDA) is launching a new Farm Business Management (FBM) scholarship program for beginning farmers. Minnesota residents who have farmed less than 10 years can receive scholarships for half the cost of enrolling in FBM education. Scholarship recipients must; have a financial interest in the farm, participate in making some or all management decisions, and participate in the operation of the farm on a regular basis.
“Strong business and financial management are critical to any farm’s success,” said MDA Beginning Farmer Program Coordinator Becky Balk. “We created this program to help beginning farmers form a solid business foundation to make their farms succeed.” Participants meet with FBM instructors one-on-one or in small groups using a curriculum customized to their farming situation.
Scholarship recipients must be enrolled in an FBM program offered through Minnesota State Colleges and Universities or the Southwest Farm Business Management Association. Beginning farmers already enrolled in FBM, qualify for scholarship assistance until they earn 40 credits (usually four years).
More than 2,000 farmers in Minnesota participate in FBM education annually. It helps them assess their profitability, make pricing and marketing decisions, monitor cash flow, secure loans, and prepare their taxes.
For scholarship rate breakdowns, or to contact an FBM program near you, visit http://bit.ly/1qNz6sk or call 651-201-6012.