What can AmeriCorps Education Award be used for?
What is the Segal AmeriCorps Education Award? You can use the award to repay qualified student loans and to pay current educational expenses at eligible institutions of higher education and training programs.
How many education awards can you get from AmeriCorps?
two
Although an individual can serve more than two terms, a person cannot earn more than the aggregate value of two, full-time education awards. Each term of service for which an individual earns an education award counts as one term of service in computing the term limitations.
Should I use my AmeriCorps Education Award all at once?
You may use your education award to both repay qualified student loans and to pay for current education expenses. You can access the entire award or part of it until the total amount has been used or the award expires. You must use your award within seven years of completing your term of service.
Do you have to pay taxes on AmeriCorps Education Award?
Yes, Segal AmeriCorps Education Awards are taxable in the year they’re paid. If you receive an award and the payment was $600 or more during the year, you should receive a Form 1099-MISC, Miscellaneous Income.
Does AmeriCorps stipend count as income?
The AmeriCorps stipend does not count as income for the purposes of this program, so AmeriCorps Members (around the country) can receive the highest monthly eligible amount, which is around $200.
Does NOLS accept AmeriCorps Education Award?
NOLS: In addition to expeditions and outdoor skills training, NOLS also offers a number of wilderness medicine courses including Wilderness First Responder, Wilderness EMT, and more. NOLS accepts AmeriCorps education awards for these courses and even may match for tuition to a semester or year-long course.
Does my AmeriCorps stipend count as income?
Yes, Segal AmeriCorps Education Awards are taxable in the year they’re paid. If you receive an award and the payment was $600 or more during the year, you should receive a Form 1099-MISC, Miscellaneous Income. The 1099-MISC will show the amount of the award in box 3, Other Income.
How much is AmeriCorps stipend?
Members accrue the end-of-service cash stipend at a rate of $4.94 per day (approximately $1,800 for a full year of service). AmeriCorps leaders serving with the VISTA program accrue the end-of-service cash stipend at a rate of $8.22 per day (approximately $3,000 for a full year of service).
How do I report an AmeriCorps education Award on my taxes?