Receive a modest living allowance that will help cover the basic costs of living, which allows national service to be an option for everybody. Furthermore, living within tight economic bounds encourages AmeriCorps Members to relate more closely with the resource-limited communities they serve. (The amount of living allowance varies by program and term type of position.)
Following your successful completion of your AmeriCorps term of service, you will become eligible to earn the Segal AmeriCorps Education Award. This can be applied to qualified student loans and to pay current educational expenses at eligible institutions of higher education and training programs. Each AmeriCorps Member can earn up to the equivalent of two full-time education awards, totaling over $11,000. Over 180 institutions of higher education will match your AmeriCorps Education Award.
The Serve America Act allows the transfer of education awards earned by a member who successfully completes a term of service in AmeriCorps State and National programs, under specific conditions. To transfer your award, you must be at least 55 years old at the start of service and the award must go to your child, stepchild, grandchild, step-grandchild, or foster child.
Loan Deferment and Interest Forbearance
Individuals who serve in an approved program may be eligible to have the repayment of their qualified student loans postponed while serving. This postponement is called forbearance. You may be eligible for loan forbearance based on your national service. While interest may continue to accrue during your service, if you successfully complete the term of service the National Service Trust will pay all or a portion of the qualified loan's interest that accrued during your service.
Jump-start your career and gain transferable skills employers value including leadership, teamwork, and problem-solving. Once you complete your service, leverage the Employers of National Service network, which connects you with hundreds of employers from the private, public, and nonprofit sectors who are committed to hiring alumni.
Join a network of like-minded leaders who are passionate about improving communities. AmeriCorps alumni receive access to special benefits and resources. For example, many colleges and universities match the Education Award and offer additional AmeriCorps scholarships.