Using your Eli Segal Education Award

2009-2010

What do you know about the Eli Segal Education Award?

Individuals can earn a maximum of two education Individuals can earn a maximum of two education awards in their lifetime.awards in their lifetime.

TrueTrue FalseFalse

Question #1

Question #1

Members are eligible to receive one award for each of Members are eligible to receive one award for each of their first two terms of service. It doesn't matter if their first two terms of service. It doesn't matter if members serve in full-time, part-time, or other term members serve in full-time, part-time, or other term lengths. They can only receive two awards.lengths. They can only receive two awards.

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Question #2

Members can choose to take a cash payment rather Members can choose to take a cash payment rather than the education award.than the education award.

TrueTrue FalseFalse

Question #2

True and false. VISTA members can decide between a True and false. VISTA members can decide between a $5,350 education award and a $1,500 cash stipend as $5,350 education award and a $1,500 cash stipend as their post-service benefit. AmeriCorps state and their post-service benefit. AmeriCorps state and national members can select only the education national members can select only the education award option. award option.

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Question #3

As soon as you finish your term of service, you can As soon as you finish your term of service, you can receive your education award.receive your education award.

TrueTrue FalseFalse

Question #3

As soon as you finish your term of service, you can As soon as you finish your term of service, you can receive your education award.receive your education award.

TrueTrue FalseFalse

To become eligible to receive your education award, To become eligible to receive your education award, you must complete all of your program's you must complete all of your program's requirements in addition to your service hours or requirements in addition to your service hours or term.term.

Question #4

Members can give their education awards to their Members can give their education awards to their children or a spouse.children or a spouse.

TrueTrue FalseFalse

Question #4

Members can give their education awards to their Members can give their education awards to their children or a spouse.children or a spouse.

TrueTrueFalseFalseThe education award was designed specifically for those who serve. The education award was designed specifically for those who serve. However, the Serve America Act says that you can transfer an However, the Serve America Act says that you can transfer an education award to your child, grandchild or foster child if you meet education award to your child, grandchild or foster child if you meet the following criteria:the following criteria:

You were at least 55 when you enrolled;You were at least 55 when you enrolled;You began service on or after October 1, 2009; andYou began service on or after October 1, 2009; andYou are serving in an AmeriCorps State or National program.You are serving in an AmeriCorps State or National program.

Question #5

If you use your If you use your credit cardcredit card to pay for school, you can to pay for school, you can use your education award to pay your credit card use your education award to pay your credit card bill.bill.

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Question #5

If you use your If you use your credit cardcredit card to pay for school, you can to pay for school, you can use your education award to pay your credit card use your education award to pay your credit card bill.bill.

TrueTrue FalseFalse

You can use your education award to make payments to qualified schools or loan holders.

Question #6

You can use your education award to attend schools You can use your education award to attend schools overseasoverseas..

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Question #6

You can use your education award to attend schools You can use your education award to attend schools overseasoverseas..

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You are eligible to use your education award at any school listed You are eligible to use your education award at any school listed by the U.S. Department of Education as “Title IV.” A number of by the U.S. Department of Education as “Title IV.” A number of overseas schools are on the list. If an overseas school tells you overseas schools are on the list. If an overseas school tells you they will not accept the education award, you might be able to they will not accept the education award, you might be able to apply for a Stafford loan or other federal student loan, and then apply for a Stafford loan or other federal student loan, and then

repay the loan with your education award.repay the loan with your education award.

Question #7

You have You have seven yearsseven years to use your education award. to use your education award.

TrueTrue FalseFalse

Question #7

You have You have seven yearsseven years to use your education award. to use your education award.

TrueTrue FalseFalse

You have seven years from the date of completion of You have seven years from the date of completion of service to use your award. Under certain service to use your award. Under certain circumstances, you can receive an extension. To circumstances, you can receive an extension. To receive an extension, you must apply in writing.receive an extension, you must apply in writing.

Question #8

You have to use up the You have to use up the entireentire education award at once. education award at once.

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Question #8

You have to use up the You have to use up the entireentire education award at once. education award at once.

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You can draw from your education award account at You can draw from your education award account at the National Service Trust in increments. For the National Service Trust in increments. For example, you can spread your education award over example, you can spread your education award over several semesters, or use one portion for tuition and several semesters, or use one portion for tuition and another portion to pay down student loans.another portion to pay down student loans.

Question #9

The education award is considered The education award is considered taxable incometaxable income..

TrueTrue FalseFalse

Question #9

The education award is considered The education award is considered taxable incometaxable income..

TrueTrue FalseFalse

The education award counts as taxable income for the The education award counts as taxable income for the tax year in which you use it.tax year in which you use it.

Resources

• Ed Award Tutorial:Ed Award Tutorial: http://encorps.nationalserviceresources.org/ehttp://encorps.nationalserviceresources.org/edaward/index.shtmldaward/index.shtml

• What’s Next? Tutorial:What’s Next? Tutorial: http://encorps.nationalserviceresources.org/http://encorps.nationalserviceresources.org/whatsnext/index.shtmlwhatsnext/index.shtml

Need Help?

• National Service Trust: National Service Trust: https://my.americorps.govhttps://my.americorps.gov• Help Desk: Help Desk: epayments@americorps.govepayments@americorps.gov

1-888-507-59621-888-507-5962

• Title IV schools information: 1-800-433-3243 or Title IV schools information: 1-800-433-3243 or www.fafsa.ed.govwww.fafsa.ed.gov

• AmeriCorps Alums: AmeriCorps Alums: www.americorpsalums.orgwww.americorpsalums.org

New Users: Click on Register to create a new Member/Alum Account

Returning Users: Enter Username & Password. Then click Login

LOGGING IN

Starting from the home page, the far left side of the page list all the tabs

Within the My Education Award tab you can create a Forbearance Request, Interest Accrual Request, & an Education Award Payment Request

Click Create Forbearance Request

WHERE TO CREATE A REQUEST

1.Select your Term of Service

2. Click on Search for Institutions highlighted in red

3.Once the institution has been selected it will populate in the Certify & Submit area

4. Click submit button & the request is done!

1.

2.3. & 4.

SUBMITTING FORBEARANCE REQUEST

CREATING AN EDUCATION AWARD REQUEST

1. Select Payment type

2. Input Amount Authorized

3. Click on Search for Institutions highlighted in red

4. Once the institution has been selected it will populate in the Certify & Submit area

5. Check box that applies to you in Certify and Submit area. Then click on the submit button. The request is

done!

1.

2.

3.4.& 5.

MY EDUCATION AWARD SCREEN By clicking on the My Education Award tab you can view all your request & payments made

Your also have the option to cancel any request made in this screen before the request is accepted

MY AMERICORPS… IT’S A ONE-STOP SHOP!

Home page: *Application Home

*My Tax Statements *My Education

Award *My Service Letter

*Contact My AmeriCorps

AmeriCorps Hotline 1-800-942-2677

www.americorpsalums.org