Raised in Plains, Georgia, Carter graduated from the United States Naval Academy in 1946 with a Bachelor of Science degree and joined the United States Navy, where he served on submarines. After the death of his father in 1953, Carter left his naval career and returned home to Georgia to take up the reins of his family's peanut-growing business. However, between his forgiveness of debts and the division of his wealth among heirs, his son Jimmy inherited comparatively little. For a year, Jimmy, Rosalynn, and their three sons lived in public housing in Plains; Carter is the only U.S. president to have lived in subsidized housing before he took office. Carter was knowledgeable in scientific and technological subjects, and he set out to expand the family's peanut-growing business. The transition from Navy to agribusinessman was difficult because his first-year harvest failed due to drought; Carter was compelled to open several bank lines of credit to keep the farm afloat.