AmeriCorps FAQ

What is the AmeriCorps Education Awards Program?
The AmeriCorps Education Awards Program is a unique program designed to serve our communities through public service, including providing teachers where they are most needed. Through a partnership between the New York City Department of Education and the City University of New York, Teaching Fellows have the opportunity to become a member of the largest education awards program in the nation. At the end of a Fellow’s first year of service, s/he will be eligible for an education award that can be used for education expenses.
 
Who is eligible to participate in the AmeriCorps Education Awards Program?
NYC Teaching Fellows in good standing who have not previously enrolled twice in AmeriCorps are eligible to participate.  Fellows are also required to attend an AmeriCorps orientation. More information will be provided to Fellows during pre-service training.
 
How do Fellows complete their service?
In order to receive the education award, Fellows will need to provide documentation that they have served at least 1,700 hours over the course of one school year (10 months). These 1,700 hours will be completed while Fellows are teaching at their commitment school, during preparation for teaching, and in their coursework or other training.
 
When do Fellows receive the award?
The awards are provided from a special account in the United States Treasury called the National Service Trust.  This Trust is managed by the Corporation for National Service, which is the parent organization for the AmeriCorps programs.  Providing Fellows fulfill all the obligations of the Fellowship & serve a minimum of 1,700 hours, the local AmeriCorps office will notify the Trust of successful completion of service, and Fellows will receive their award the summer after their first year of teaching.
 
Can Fellows receive more than one award?
Fellows are eligible to earn up to two AmeriCorps education awards. Pending funding and a successful evaluation of the Fellow, the member, AmeriCorps may be able to offer a second award of the same amount at the end of a Fellow’s second or third year of teaching. Fellows may, of course, serve in another AmeriCorps Education Award Program to receive a second award. 
 
How can Fellows use the award?
The award, worth $4,725, is disbursed in the form of an educational voucher.  It can be used to repay existing or future qualified educational loans; to pay for the cost of attending a qualified institution of higher education or an approved School-to-Work program; or to reimburse a Fellow for expenses included in the Cost of Attendance at his or her assigned university. (Because the award is an educational voucher, not a stipend, this is only an option if the Fellows is enrolled as a student at the time s/he earns/uses the voucher.)

The award is not limited to one loan or one school. It can be used to help pay several qualified loans or the costs of attendance at several educational institutions or combination of both. The distribution is entirely up to the award recipient.  The education award must be used within seven years of completion of your service. 

Will Fellows have to pay taxes on the award?
According to the IRS, in most cases awards are subject to income taxes in the calendar year in which they are used.   The Corporation will not deduct taxes but will provide a Form 1099 to be used in preparing a Fellow’s income tax return.  Some individuals may be able to take advantage of tax credits, such as the Lifetime Learning Credit, to offset some of their tax liability.
 
Is it true that current loans may be eligible for forbearance while a Fellow completes his/her term of service?
Fellows may qualify for a postponement or forbearance of the repayment of their qualified student loans while they are earning their award. The lending institution or loan service determines an individual’s eligibility for forbearance from their loan. AmeriCorps merely certifies participation in a national service organization.
 
Is it true that AmeriCorps will pay any interest accrued during an individual’s term of service?
When a Fellow has successfully completed service and if his/her loans are in forbearance through the AmeriCorps, the Trust will pay all of the interest that accrued on the loan(s) during your term of service.  Since these are benefits above and beyond the education award, interest payments will not be deducted from the amount of the award.
 
Will the education award affect eligibility for other student financial aid?
The education award will not be taken into account in determining eligibility for any federal student aid.  AmeriCorps has no jurisdiction over whether state or private universities – or private scholarship funds – will take the award into account in determining eligibility for institutional aid; however, AmeriCorps has requested that institutions refrain from doing so.
 
How do Fellows apply?
Fellows will be required to attend an AmeriCorps orientation where they will receive further information and AmeriCorps application materials.