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Financial advising scholarships available for cover crop farmers

The University of Minnesota Office for Soil Health (MOSH) announces Farm Business Management (FBM) scholarships for current Minnesota cover crop farmers. Producers who have successfully grown cover crops in three of the past ten years will be eligible for reduced tuition for participating in the financial advising programs offered by Minnesota State Colleges and Universities and by the Southwest MN Farm Business Management Association.

Scholarships will cover 50% of the cost of tuition for producers who are new to the FBM program and 5% for current FBM students. Participants work one-on-one with instructors using the FINPACK software to analyze their farm financial situation. By adding their data to the FINBIN database, individuals can compare their results to similar Minnesota farmers, while their data remains private. Scholarship recipients are expected to include data on cover crop expenses and benefits so they can assess their return on investment in cover crops.

By increasing the amount of cover crop data in the FINBIN database, MOSH hopes to improve our understanding of the economic value of incorporating cover crops into farm operations.

The scholarships are supported by the Minnesota Natural Resources Conservation Service. Information for identifying a FBM instructor and applying for a scholarship are on the MOSH website at https://z.umn.edu/MOSH-FBM .

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