Guidance: AmeriCorps Education Award Resources for Members
Education Award FAQs for Members
Many member questions can be answered in TCN’s publication “Using your Ed Award/Non-Traditional Uses for the AmeriCorps Education Award” in Section IX of the Manual.
Here are a few of the FAQs
Do I have to use the on-line system, My AmeriCorps, to request payments?
In order to minimize a delay in the processing of Segal AmeriCorps Education Award payments, individuals must request payments electronically using the on-line system, My AmeriCorps. This is a fast, secure, and user-friendly method to request that a payment be made from your account to qualified schools and loan holders.
It also provides an electronic record of payments requested and made and their current status. AmeriCorps cannot guarantee the prompt processing of payments when paper forms are used. Payments requested by paper could take up to six months or more to process and they are less secure.
It is fast and easy to access your account in My AmeriCorps. To register in My AmeriCorps or to log into your My AmeriCorps account, go to href=”https://my.americorps.gov/mp/login.do”>https://my.americorps.gov/mp/login.do.
Does my account in My AmeriCorps show me the value of education awards that I have already earned?
Yes. From your Home Page, click on My Education Award in the box on the left. In the next screen, under Account Statement – Award Information, the “Award Value” of each education award received is listed in the table.
Also, when a program is enrolling an individual into a position, the enrollment screen will show the aggregate value of awards already earned. A statement similar to this will appear on the screen that the program is using:
This member has served 2 previous term of service, earning the value of “1.5”
full-time education awards out of a maximum possible two full-time awards (2.0).
For what purposes can the education award be used?
The education award can be used in one of, or a combination of, the following ways:
- To repay qualified student loans.
- To pay all or part of the current education expenses to attend eligible institutions of higher education (including certain vocational schools) and educational programs approved under the G.I. Bills
What expenses are considered to be “current educational expenses”?
Education expenses are considered “current” if they were incurred on or after the date the member began his or her term of AmeriCorps service.
Eligible educational expenses are based on:
- For a degree or certificate-granting program at a Title IV school: Each Title IV School’s Financial Aid Office can determine eligible expenses based on a student’s Cost of Attendance (COA) using standard U.S. Department of Education guidance. The COA may include tuition, books and supplies, transportation, room and board, and other expenses.
- For non-degree courses offered by Title IV schools (such as continuing and adult education courses): The appropriate administrative office that oversees the course—for example, a college’s Business Office for Continuing Education—can determine eligible expenses. These expenses are based on tuition and fees normally assessed a student for a course or program of study by the institution and can include costs for rental or purchase of any books or supplies required of all students in the same course of study.
- For G.I. Bill approved courses or programs: The institution’s approved Certifying Official for VA courses can determine eligible expenses based upon criteria developed by the U.S. Department of Veterans Affairs.
An AmeriCorps member may use the education award for up to seven years after his or her service completion date.
A Summer of Service member or a recipient of a transferred award can use the award for up to ten years from the original award earner’s service completion date.
In certain circumstances, the use period may be extended if the member was unavoidably prevented from using the award. To be considered for an extension, a member must apply for an extension before the end of the use period. See the section in these FAQs on Extensions for more information.
Is the education award taxable?
Yes. The education award is considered taxable income in the year it is used. For example: If, in 2017, a person uses all or part of an education award for college or uses the award to repay qualified student loans or even uses the award for both purposes, the total amount paid from the education award in 2017 must be included as taxable income for that year. AmeriCorps does not withhold taxes from the award. By the end of January each year, AmeriCorps sends a 1099 MISC Form to all AmeriCorps members for whom payments have been made totaling $600.00 or more during the previous year. These include both payments from education awards and payments of interest that accrued while the person was serving. The 1099 MISC Form reflects the amount that AmeriCorps reports as taxable miscellaneous income to the IRS.
