AmeriCorps Education Award
Members are eligible for a Segal AmeriCorps Education Award upon successful completion of a term of service in accordance with the member contract with one of the following approved AmeriCorps programs:
- AmeriCorps *State and National
- AmeriCorps *VISTA
- AmeriCorps *NCCC
Members must have received a high school diploma or the equivalent of such diploma at the time the Segal AmeriCorps Education Award is used.
General Education Award
- The trust does not make payments to anyone else other than qualified schools and loan holders. See your financial aid counselor for information on how they handle disbursements and reimbursements.
- If you withdraw from the school at which you have used the education award, the school may be required to refund the trust. If any refund is owed, it is credited to your education award “account,” and is subject to the seven-year time limit.
- You have seven years to use the education award from the date of your completion of service. You can divide up your award and use portions of it at different times, as long as it is for authorized expenditures within the specified time period.
- Payments from Segal AmeriCorps Education Awards are considered taxable income in the year the corporation makes the payment to the school or loan holder.
AmeriCorps, VISTA and NCCC members can enroll in multiple terms of service equal the value of two full-time education awards, i.e., you can blend summer, part-time, and full-time service positions and receive awards as long as the combined service terms don’t exceed two full terms. (Or serve without an award up to the maximum number of terms).
The maximum number of terms for each stream of service:
- Four terms with AmeriCorps State and National (Belleville AmeriCorps is an AmeriCorps State program)
- Two terms with VISTA (you can do a third term with VISTA and not receive an Education Award)
- Two terms with NCCC
- If you max out the number of terms you serve with one stream of service, you can start a new term with another and receive additional awards–as long as you have not yet reached the full value of two full-time awards. You can also serve terms (and elect not to receive an education award) up to the limits shown under Maximum Terms.
- If you wish to enroll in a new term that exceeds your eligibility, you can do so and receive a pro-rated award. The amount of the award will be determined by the full-time award amounts in the years you served and will bring your total awards to the amount of two full-time awards.
- If you exit a term “for cause” and do not receive an award, it counts as term of eligibility. For example, if you leave midway through a full-time service term and don’t receive an award, you lose a full-time term of future eligibility. The same is true with part-time and summer service terms.
- If you receive full or partial education awards from a parent, grandparent, or foster parent, the amount you receive will diminish your ability to receive awards in the future through your own service.
- The Serve America Act allows for the transfer of AmeriCorps State and National and Silver Service education awards under certain conditions. Basically, the person who earned the award has to have been at least 55 years old when they began the term of service and the person to whom the award is transferred has to be the transferring individual’s child, grandchild, or foster child.