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HR 1131119th CongressIntroduced
Family Farm and Small Business Exemption Act
Introduced: Oct 29, 2025
Standard Summary
Comprehensive overview in 1-2 paragraphs
The Family Farm and Small Business Exemption Act restores exemptions for family farms and small businesses from asset calculations in federal student aid formulas.
Key Points
- 1Exempts family farms where family resides from asset consideration in FAFSA
- 2Exempts small businesses with ≤100 full-time equivalent employees owned by family
- 3Restores previous treatment of family-owned businesses and farms in student aid
- 4Applies to need analysis for award years beginning on or after enactment date
- 5Affects Expected Family Contribution calculations for college affordability
Impact Areas
College students and families applying for federal student aidFamily farms and small business ownersHigher education affordability and financial aid policyRural communities and agricultural families
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