AmeriCorps Expands Opportunities for Students, Increases Flexibility for Education Awards
New federal rule will allow AmeriCorps alumni to more easily transfer their awards
WASHINGTON, DC – AmeriCorps, the federal agency for national service and volunteerism, announced today revisions to its National Service Trust regulations to expand opportunities for students. AmeriCorps uses the National Service Trust to pay education awards to eligible AmeriCorps members.
After completing an AmeriCorps term of service and enrolling in the National Service Trust, members are eligible to receive the Segal AmeriCorps Education Award. This award can be used to repay qualified student loans and to pay current educational expenses. The amount of a full-time Segal AmeriCorps Education Award is equivalent to the maximum value of the Pell Grant for the fiscal year in which the term of national service is approved. For fiscal year 2023 that value is $6,895 for full-time AmeriCorps members.
“AmeriCorps is proud to have provided billions of dollars in Segal Education Awards to help our members and volunteers pay for school or repay loans,” said Michael D. Smith, CEO, AmeriCorps. “The rule changes we’re making will expand opportunity and make paying for college easier for thousands of students and their families.”
This rule increases flexibility for those who earn education awards to use and transfer those awards to others in their families. The rule also improves the clarity of regulations applicable to education awards through use of consistent terminology and more transparent procedures for extensions, transfers, and revocations of education awards.
The federal rule update improves flexibility to use or transfer education awards, allowing AmeriCorps alumni who earn the award to transfer to one or two individuals. Alumni who have previously revoked their award transfer can now retransfer to another individual without getting approval from AmeriCorps. There are now clearer requirements for when an individual requests an extension for their education award.
This final rule is open for public comment for 30 days after publication. After the public comment period this rule will be enacted.
To date, AmeriCorps alumni have eared more than four billion dollars in education awards to repay loans or pay for furthering their education. Every year more than one million in education awards are paid to historically Black colleges and universities.