(SPRINGFIELD) Changes in federal financial aid rules, effective this year, may make it much more expensive for farm families to send their children to college. Under the old FAFSA form over the past several years, a family with $1 million farm value, was responsible for about $7,600 a year for their child’s education after student aid. Under the new rules for the 2024-2025 school year, the family would be responsible for $41,000. The exemption for small businesses and farms had existed for a long time, but changed when an omnibus bill totaling thousands of pages passed at the end of 2023 and was signed by President Biden.
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