Your education award

You can use your education award in the following ways, or a combination of them:

• to repay qualified existing or future student loans;

• to pay all or part of the current cost of attending a qualified institution of higher education (including certain vocational programs); or

• to pay current expenses while participating in an approved school-to-work program.

• If you successfully complete one full-time term of service (as defined by your program), you will be eligible for an award of $6,895.00.

• If you successfully complete one part-time term of service, you will be eligible for an award of the following amount:

  • Three Quarter Time (TQT) 1200 Hrs.  - $5,176.50

  • Reduced Half Time (RHT) 675 Hrs. - $2,817.14

  • Minimum Time (MT) 300 Hrs. - $1,565.08

  • Abbreviated Time (AT) 100 Hrs. - $416.17 

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If you serve at least 15 percent of your term and leave for compelling personal circumstances (as determined by your project director and according to federal regulation), you may be eligible for a prorated award based on the number of service hours you complete.

Over the course of your service, you can receive a total educational award equivalent to two full-time awards.You can find more specific information on the current value of the Award at this link. A member may serve any number of AmeriCorps terms until they meet this cap.

This regulation can be found in the Code of Federal Requirements (CFR) § 2526.50.

You can use your education award any time after you receive your voucher—up to seven years after the date you end your service. If you are over the age of 55 you can transfer your education award to a family member. You can apply for an extension if:

• you are unavoidably prevented from using the award during that time; or

• you perform another term of service in an approved program. To be considered for an extension, you must apply before the end of the seven-year period.

To transfer your Education Award to a child or grandchild follow the steps below (*Note: Only allowable for members who are 55+ on their first day of service):

1. Visit MyAmeriCorps at: My.AmeriCorps.gov

2. Enter your username / password and click “login” - If you need help accessing your My AmeriCorps account, please call:  800-942-2677

3. From the member’s homepage, click on "Award Transfer Request”

4.  Verify that all of the pre-populated information on your request form is correct

5. If you served more than one term of service, select the dates of service for which you are requesting forbearance

6. Enter the amount of the Education Award to transfer (*Note: Each Education Award can only be transferred to one child or grandchild, one time.)

7. Enter the recipient’s information

8. Once you click the "submit" button, your Education Award will be transferred to the recipient indicated

Yes. You will be taxed on your education award in the year you use it. For example, if you use all or part of your award for college in the Spring of 2022, when you file your 2022 taxes, you must pay taxes on the portion of the award you used.

However, you may be able to take advantage of the Hope Scholarship Credit or the Lifelong Learning Credit. Those credits may provide you with significant tax relief. Both the Department of Education and the Internal Revenue Service have information on these tax provisions.

The Corporation for National and Community Service does not deduct taxes from the award, but in late January it sends 1099 Forms to all AmeriCorps members who have made payments from their education awards and who have accrued interest during the previous year. The 1099 Form does not need to be included in your tax return, but it reflects the amount that the National Service Trust reports to the IRS as taxable miscellaneous income. If you have questions about how to file taxes for your award, contact your local IRS office.

Accessing and managing your AmeriCorps Education Award has never been easier. My AmeriCorps provides a one-stop shop for AmeriCorps members and alumni - presenting a wealth of information and frequently requested forms and services. By registering to use the system, you can check your award balance, access important financial forms, request for a forbearance, and, most importantly, easily make payments to your educational or financial institution. To use your Education Award follow the steps below: 

1. Visit MyAmeriCorps at: My.AmeriCorps.gov

2. Enter your username / password and click “login” - If you need help accessing your My AmeriCorps account, please call:  800-942-2677

3. From the homepage of your account, click “Create Education Award Payment Request” under “My Education Award” on the left side of the page

4. Authorize how you would like to use your award

   1. Payment Type: Choose either Education Expenses or Loan Payment

   2. Amount Authorized: Select any amount up to and/or including the award balance

   3. For current Education Expenses, you must also select ‘Semester or Term’: You have to indicate for which semester you want to use your Segal AmeriCorps Education Award. You must be enrolled at the college/university for this semester because the institution will need to verify your enrollment.

5. Search for Institutions

   1. Click here to choose your university or loan holder name

   2. Type in the name of the institution or loan holder and click search

   3. The information should show up. Click on the name in red to verify this is the institution or loan holder you want to select.

   4. The search results will automatically enter correspondence and payment addresses for the institution. This information must be present before

   5. certifying and submitting the request.

6. Certify and Submit: Check the boxes to authorize your information and click submit.

A video tutorial is available at EducationAlliance.org/AmeriCorps 

For most qualified student loans, the loan holder must approve your request for forbearance during your term of service. Forbearance is not automatic; you must request it. During a period of forbearance, you do not have to make payments, although interest continues to accumulate on your loans. If you qualified for loan forbearance and completed the appropriate form at the beginning of your term of service, your forbearance should remain in effect until you complete your service. You may want to check with your loan holder to be sure that the forbearance has been placed in effect. To place your student loans on forbearance, follow the steps below: 

1. Visit MyAmeriCorps at: My.AmeriCorps.gov

2. Enter your username / password and click “login” - If you need help accessing your My AmeriCorps account, please call:  800-942-2677

3. From the member’s homepage, click on "Create Forbearance Request”

4. Verify that all of the pre-populated information on your request form is correct

5. If you served more than one term of service, select the dates of service for which you are requesting forbearance

6. Search for and select your Financial Institution

7. Once you click the "submit" button, your forbearance request will be sent to your Financial Institution for them to process

If you obtained loan forbearance at the beginning of your term of service, you need to submit an interest accrual form to your loan holder when your term has ended. The loan holder must complete the bottom of the form, compute the total accrued interest, and send it to the Trust for payment. The Trust can pay your interest only if you successfully complete your term of service and receive an education award. This amount is in addition to your education award. To request student loan interest payment follow the steps below: 

1. Visit MyAmeriCorps at: My.AmeriCorps.gov

2. Enter your username / password and click “login” - If you need help accessing your My AmeriCorps account, please call:  800-942-2677

3. From the member’s homepage, click on "Create Interest Payment Request”

4. Verify that all of the pre-populated information on your request form is correct

5. If you served more than one term of service, select the dates of service for which you are requesting interest payment for

6. Search for and select your Financial Institution

7. Click the check boxes next to the certifications

8. Once you click the "submit" button, your interest payment request will be sent to your Financial Institution for them to process