Farm Credit Services offers student loans for any member of a farm or ranch family operating an entity that is eligible for FCS of ND financing and will be attending a public or private institution of higher education. The maximum loan is $80,000 for a 4 year degree program or $30,000 for a 2 year degree program with a maximum draw of $20,000 annually or $10,000 per semester. The initial loan will be set up on a 5 year term for a 4 year degree program or a 2 year term for a 2 year degree program with interest only due annually while the student remains enrolled in school. Loan covenants will require the loan to go into principal repayment status within 6 months after the time the student leaves school and/or graduates. The loan may be rewritten with a 7 year maximum term.