What other financial benefits can I receive by participating in Equal Justice Works AmeriCorps?
You may arrange to postpone repayment of certain “qualified student loans” by placing the loans into forbearance while you are serving as an AmeriCorps Fellow. During this forbearance based on national service, interest continues to accrue. If you successfully complete your term of service and earn an education award, the National Service Trust, the entity which administers financial benefits for AmeriCorps members, will pay all or a portion of the interest that has accrued on your qualified student loans during this period. However, the accrued interest paid by the Trust, like the education award itself, is subject to income taxation.
You may arrange to postpone repayment of certain “qualified student loans” by placing the loans into forbearance while you are serving as an AmeriCorps Fellow. During this forbearance based on national service, interest continues to accrue. If you successfully complete your term of service and earn an education award, the National Service Trust, the entity which administers financial benefits for AmeriCorps members, will pay all or a portion of the interest that has accrued on your qualified student loans during this period. However, the accrued interest paid by the Trust, like the education award itself, is subject to income taxation.
