Peace Corps Fellows Program @ Teachers College :: Education Award & Other Benefits

AmeriCorps

Education Award & Other Benefits

AmeriCorps Benefits

Upon successful completion of the Member’s full-time term of service, the Member will receive an education award with a value of $5,550 from the National Service Trust. The Member understands that his/her failure to disclose to PCP any history of having been released for cause from another AmeriCorps program will render the Member ineligible to receive the education award. The education award is subject to income tax the year it is used. The Trust at the Corporation for National Service will send Member a 1099 Form the year the award is administered.

Loan Forebearance and Loan-Interest Reimbursement

Upon enrollment and acceptance into the PCP the Member is eligible for forbearance of any qualified student loan. If the Member has received forbearance on a qualified student loan during the term of service and the Member successfully completes the term of service, the National Service Trust may repay a pro-rated portion of any interest that accrued on the loan during the time of service.

Child-Care Provision

Pursuant to the regulations in 45 C.F.R. §§2522.250, active full-time AmeriCorps State & National members may be eligible to receive a child care benefit to pay all or part of their child care costs. For more information please visit the following FAQ's.

My AmeriCorps

(Forebearance, Interest Accrual, View & Print 1099 Forms, Modify Contact Information, and Certifiy the Completion of your AmeriCorps Service)

My AmeriCorps is a space just for those who serve or have served. My AmeriCorps will provide interactive tools and customized information for members at every stage of their AmeriCorps experience. This site will automate and make many of the most frequently used and requested forms associated with serving available online.

In order to access My AmeriCorps, you must first register for an account. Please click on the link below to register and/or access your account:

https://my.americorps.gov/mp/login.do

In addition, this new automated system lets you view the status of your requests, provides you with up to date information on your AmeriCorps Education Award balances, the history of your requests and even lets you update your contact information online. The automated payment process and online system provide many benefits to you. Here are just a few of the highlights and an illustration of the capabilities of the AmeriCorps Online Payment System:

Modify contact information (addresses, email address)
View and print 1099 forms
Complete loan forbearance and interest accrual forms
Access letters to certify successful service with an AmeriCorps program
Use all of the features and forms that were available in the AmeriCorps Online Payment System (automated payments to schools/institutions from the AmeriCorps Education Award)

If you have questions about the new automated process, call 1-800-942-2677 for assistance.

Taxes

The Education Award, unlike most other forms of scholarships and fellowships, is subject to federal tax in the year the Trust pays the voucher. The Trust DOES NOT deduct taxes from your education award or interest payments. After the calendar year in which AmeriCorps paid your education award or interest payments, they send you a Form 1099 to be used in preparing your income tax return. The total sum of interest payments and the education award are listed together on the 1099 form.

Check Your AmeriCorps Benefits Online

To manage your benefits online, please go to:

https://my.americorps.gov/mp/login.do

Please contact AmeriCorps directly at 1-800-942-2677 if you are having trouble logging in.

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Education Award & Other Benefits