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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 awards in their lifetime. True False Question #1

Question #1 Members are eligible to receive one award for each of their first two terms of service. It doesn't matter if members serve in full-time, part-time, or other term lengths. They can only receive two awards. True False

Question #2 Members can choose to take a cash payment rather than the education award. True False

Question #2 True and false. VISTA members can decide between a $5,350 education award and a $1,500 cash stipend as their post-service benefit. AmeriCorps state and national members can select only the education award option. True False

Question #3 As soon as you finish your term of service, you can receive your education award. True False

Question #3 As soon as you finish your term of service, you can receive your education award. True False To become eligible to receive your education award, you must complete all of your program's requirements in addition to your service hours or term.

Question #4 Members can give their education awards to their children or a spouse. True False

Question #4 Members can give their education awards to their children or a spouse. True False The education award was designed specifically for those who serve. However, the Serve America Act says that you can transfer an education award to your child, grandchild or foster child if you meet the following criteria: You were at least 55 when you enrolled; You began service on or after October 1, 2009; and You are serving in an AmeriCorps State or National program.

Question #5 If you use your credit card to pay for school, you can use your education award to pay your credit card bill. True False

Question #5 If you use your credit card to pay for school, you can use your education award to pay your credit card bill. True False 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 overseas . True False

Question #6 You can use your education award to attend schools overseas . True False 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 overseas schools are on the list. If an overseas school tells you they will not accept the education award, you might be able to apply for a Stafford loan or other federal student loan, and then repay the loan with your education award.

Question #7 You have seven years to use your education award. True False

Question #7 You have seven years to use your education award. True False You have seven years from the date of completion of service to use your award. Under certain circumstances, you can receive an extension. To receive an extension, you must apply in writing.

Question #8 You have to use up the entire education award at once. True False

Question #8 You have to use up the entire education award at once. True False You can draw from your education award account at the National Service Trust in increments. For example, you can spread your education award over several semesters, or use one portion for tuition and another portion to pay down student loans.

Question #9 The education award is considered taxable income . True False

Question #9 The education award is considered taxable income . True False The education award counts as taxable income for the tax year in which you use it.

Resources Ed Award Tutorial: http://encorps.nationalserviceresources.org/edaward/index.shtml What’s Next? Tutorial: http://encorps.nationalserviceresources.org/whatsnext/index.shtml

Need Help? National Service Trust: https://my.americorps.gov Help Desk: [email_address] 1-888-507-5962 Title IV schools information: 1-800-433-3243 or www.fafsa.ed.gov AmeriCorps Alums: w ww.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

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