1. How can I use my education award?
The education award can be used to repay qualified student loans, toward the cost of attendance at a Title IV institute of higher education, and/or toward expenses incurred while participating in school-to-work programs.
2. How long do I have before my Education Award expires?
Your education award is valid for 7 years, effective the date your service ends.
3. How do I access my Education Award if my maiden name has changed?
Contact the National Service Trust at 1 (888) 507-5962 or edawardvoucher@cns.gov to request an update of your name in the National Trust records.
4. How do I request another copy of my Education Award if it has been lost or if I never received one?
If you have questions about the status of your Education Award or need another copy, contact the National Service Trust at 1 (888) -507-5962 or edawardvoucher@cns.gov. Operators are available Monday through Friday from 8:00 a.m. to 6:00 p.m. Eastern Time.
5. How long do I have to wait to receive my Education award voucher?
Once you have sent in all your exit paperwork and received an end of term email you should expect your Education Award voucher in the mail within 6-8 weeks.
6. What student loans qualify?
A “qualified student loan” is any federally backed student loan that is in your (the student’s) name. The technical definition of a qualified student loan is contained in the legislation of the National Service Trust. Additionally, any loan made directly to you by the Alaska Commission on Postsecondary Education is qualified. If you are unsure, ask your lending institution.
7. Does the Education Award come to me or does it go directly to the Financial Aid office of my school?
The Education Award is mailed to you. It is your responsibility to follow the steps to process your Award. You decide whether or not your Education Award should go to your Financial Aid office. If you do, then the Financial Aid officer will mail the voucher to the National Service Trust. Payment(s) will be made to your institution or lender, and any amount over $1500 will be issued in two equal installments to your institution or lender.
8. Does the National Trust send me a new Education Award voucher after each use?
Yes, you will receive a new voucher with your remaining balance each time a payment is made from your Education Award account. Do I have to complete a FAFSA form in order to use my Education Award?
No, completing a FAFSA form is not required; however completing the FAFSA form is required in order to receive additional financial aid you qualify for.
9. Do I have to complete a FAFSA form in order to use my Education Award?
No, completing a FAFSA form is not required; however completing the FAFSA form is required in order to receive additional financial aid you qualify for.
10. Does the National Service Trust pay the interest accrued during my term of service?
Yes, but only for Federal Student loans. As a part time member the National Service Trust will pay a percentage based on your hours served. You will need to put your loans on forbearance at the start of your term and complete an interest accrual form at the end of your term. However, if your student loans are in deferment and not accruing interest the National Service Trust will not pay the interest.
11. How many Education Awards can I earn?
You can earn a maximum of two Education Awards; regardless of the type of AmeriCorps program/combination you enroll in. (VISTA, NCCC, State, National, part- or full-time, etc.) I recently consolidated my loan.
12. Can I use my Education Award to pay the principle on one of my smaller loans instead of dividing the award to pay my monthly amount on the loan?
It depends. Typically, lenders will apply the Education Award to the interest and payments, rather than principle. You will need to contact your lender to request your Education Award be applied to the principle only.
13. Are there disadvantages to consolidating my student loans before the end of my year of service?
There can be some disadvantages to consolidating your loans before the end of your service year. Consolidation Lenders won't necessarily accept the interest accrual form, thus making you responsible for payment of accrued interest.
Some consolidation lenders do not offer forbearance to members of national service
In order to decrease complications postpone consolidation until after you've completed your term of service. Wait until after the interest is paid, then consolidate.
14. If I am using the Education Award to pay for loans, is it better to A) use it all at once or B) use it monthly when my loan payments are due?
It depends. Remember that the Education Award is taxable. This means if you use it all at once, you will be taxed all at once. To help distribute the tax burden, you can chose to use your Education Award over a period of several years. Also, if you are planning on going back to school, it is sometimes better to keep a little bit in case you need it for cost of attendance at a Title IV school.
15. Should I figure out my taxes before I use my Education Award to ensure that I don't get bumped into a higher tax bracket?
You won't be able to reduce the total taxes you pay when using your Education Award, but you can reduce the large tax bill by redeeming your Education Award in multiple disbursements. Do this by making a copy of the Education Award, using part of it before the end of the calendar year (which corresponds to the tax year), and using the other part(s) after January of the subsequent year. If you still have questions on how the Education Award will affect your taxes you should consult a CPA.
16. Is there a way to receive a tax break?
There are certain tax breaks you can now get for education expenses. This is a great benefit. There is information on the AmeriCorps website in the Education award section under benefits and taxes. www.americorps.org
17. Are taxes taken directly from the Education Award or am I responsible for making the payment at tax time?
The tax is not automatically deducted from the Education Award. You are responsible for covering this cost. Education Award funds can only be used for cost of attendance at a Title IV school or repayment of prior loans. You must use other income sources to pay any tax burden. How will the award affect reporting on income tax return?
You will get a 1099 at the end of the year for any amount of your award that you use.
18. Where can I find a listing of schools that accept the Education Award?
For a listing of institutions that offer these benefits consult the Schools that Match Ed Award (179k) document.
19. Will the school I attend match or supplement the Education Award?
The AmeriCorps alumni web site www.lifetimeofservice.org has a list of schools that match or supplement the Education Award. If your school does not, the website has a tool kit to help you get started in increasing the number of schools that match the award. 
20. Can the institution include travel in its cost and reimburse me if I study overseas?
Yes, travel is normally a cost of attendance expense if you are enrolled at least half time or greater status.