Central/Northeast Missouri | a little backstory...
Im 18 currently attending The University of Missouri chasing the "american Dream." I've always loved agriculture, since I could stand up in the windowsill I would watch area farmers out in the field working of central/northeast missouri. The problem was everyone in my family is a generation or more removed from production ag and all I want to do is find a way to start farming. Neither of my parents went to college, but they have decent jobs now, not enough to save very much, but we never struggled growing up. I am currently enrolled in an Ag systems Managment course and i'm on course to graduate in May 2020.....with about $120,000 in student loan debt. I had no college fund but thought the only way to ever own ground was to blow way to much to get a piece of paper and a good job so I could pay those loans off and move back home. Thats where the issues arise. College isnt hard, as long as you keep your head down and study there's nothing that isn't achievable by the average person, but my family doesn't come from money and even though I worked through high school for area farmers I wasn't able to save up much becuase I had to pay for just about anything I wanted after the age of 16. Heck I even did powerwashing and helped load hogs on nights I didn't have much homework.
I guess what i'm looking for is for some advice on the best way to possibly hop into production ag without the college degree, if any. I know this isn't the 80's anymore and you need more than sweat equity to get very far no matter how hard you try. But I have no problem appearing poor to everyone around me if behind the scenes and on paper building equity for the long haul and be successful, and I would love to hear every reason for and against it. Its tough sitting here knowing when I graduate I'll owe a college $500 a month for 15 years when If it's possible to use that money towards a farm or operating cost budget.
Pipe Dream- Quit college right now, only have my truck payment to make every month and a $6,000 student loan to pay off, chalk it up as a learned experience, and move back home. I know 2 local companies that would hire me on the spot for $15 and hour...which in the grand sceme of things is a good amount for an 18 year old kid, but not for the long haul wanting to start a family or saving anything up. I have higher aspriations than working for someone else my entire life but I know I must at first. For anyone that has gotten an FSA loan or similar, what do you think the chances are of me being able to get an operating loan from them and look for some ground to rent while working that full time job in my situation with very little, basically no collateral except a drive that says never quit? The only reason I am attending college is to get that piece of paper so I can make a lot of money for a few years to come back and be poor farming, if anyone sees a way I could just start off poor farming and work my way up without having that 120,000 loan please give me some advice! Thank you guys on here very much.
EDIT TO ADD- The 6,000 I owe right now is from 1 semesters student loan. I will need the other 6,000 for next semester. the rest of this year has been payed for from scholarships and saved money. I attend mizzou and they figure tuition and living expenses at 27,000 a year. Im figuring the 120,000 as a worst case scenario with all interest I will incur if I must borrow that money for the next 3.5 years, any unexpected expenses, and finishes out my truck payment. My loans are through discover credits cards student loan program for 8.8% interest fixed for 15 years.
Edited by FarmGuy97 9/25/2016 23:22
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Wanna help shape a young guys life? HELP NEEDED..
