Rep. Sam Graves, U.S. Representative for Missouri's 6th District | Rep. Sam Graves Official Website
Rep. Sam Graves, U.S. Representative for Missouri's 6th District | Rep. Sam Graves Official Website
Feb 7, 2025
Washington, D.C. - Congressman Sam Graves has joined a bipartisan effort to reintroduce the Family Farm and Small Business Exemption Act. This legislation aims to restore exemptions for family farms and small businesses in the federal formula used to determine student aid eligibility.
The changes stem from provisions in the FAFSA Simplification Act enacted in July 2024, which altered how assets are assessed as part of a family's net worth. The new bill seeks to revert to previous standards that exempted these assets.
Rep. Graves emphasized the importance of this measure, stating, “Growing up on a family farm shouldn’t disqualify anyone from receiving financial aid to go to college.” He added that families should not have to sell their farms to afford education costs: “The Family Farm and Small Business Exemption Act restores standard exemptions that have been around for decades... It’s just plain common sense.”
In addition to Rep. Graves, U.S. Representatives Tracey Mann and Jimmy Panetta are involved in this legislative push alongside House Agriculture Committee leaders G.T. Thompson and Angie Craig. The initiative also has support from 73 other colleagues.
In the Senate, Senators Joni Ernst and Michael Bennet introduced the corresponding legislation.
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