Education award

What is it?

The Segal AmeriCorps Education Award is a benefit that AmeriCorps members receive upon successful completion of their term of service. For Program Year 2015-16, the award amount for full-time positions (1,700 hours) is $5,730.

  • Half-time positions (900 hours) will receive an education award in the amount of $2,822 upon successful completion of the service term.

 

What can the education award be used for?
  • The cost to attend qualified higher education institutions (including certain vocational programs and enrichment classes).
    • Some schools will do a full or partial match of the award; click here for a list.
  • Paying off existing qualified student loan debt.
  • Paying current expenses while participating in an approved school-to-work program.

 

Key tips:
  • The education award expires seven years after you receive it (however, you might be able to receive an extension).
  • It can be used all at once or in partial amounts.
  • The education award is taxable in the year(s) it is used.
  • Upon successful completion of the service term, members are eligible to have the National Service Trust pay up to 100% of the interest that accrued on their qualified student loan during their service. This is in addition to the education award.

 

Want to learn more? Check out these resources: