Life After AmeriCorps

Life After AmeriCorps (and info about taxes)

my.americorps.gov

How to use the my.americorps.gov site (PDF)

EDUCATION AWARD RESOURCES

AmeriCorps.gov - ed award resource page - Includes useful videos, info about taxes, schools that match the award, how to use your award for materials and other great stuff

My.AmeriCorps.gov helpline: 202-606-5000

National Service Hotline (for Ed Award questions and more): 1-800-942-2677

What you can do with your Ed Award

Pay off qualified, federal student loans (not private)
Use it toward "cost of attendance" (e.g. classes, books, materials) at a Title IV school
Give it away to a relative if you are 55 or older when you start your term

Taxes

You are responsible for paying taxes on your Ed Award and any interest accrual payments the tax year that you use it. If either of these payments is more than $600 of your award you will get at 1099-MISC on your my.americorps site. If you spend less than $600 you still have to pay taxes but you will not get a 1099-MISC.

The IRS Tax calcuator can help you look ahead at what effect spending the Ed Award can have on your taxes. Fill in the amount you expect to use in the "Enter the total of any other taxable earned income (including bonuses, but excluding salary), you received or expect to receive in 2012" field)

Free Federal and State tax filings for AmeriCorps Alumns making less than $58,000 through a partnership with H&R Block

CASH: Free help with your tax preparations in Oregon

Student Loans

About forbearance - you are eligible for Mandatory forbearance because you are in a national service program.

Heather Jarvis - free tools and information

Student Loan Borrower Assistance - general resources and tools about student loans

Income-Driven Repayment - resources about the many repayment options with student loans

Repayment Estimator - can calculate effect of different income-driven repayment

Public Service Loan Forgiveness - details about how working full time in the public service sector can get all of your student loans forgiven. Your AmeriCorps is eligible for participation in the PSLF program, however you must make full, on-time payments while serving in order for it to count.

Income Based Repayment is a plan for continuing to make payments even if you don't have much money. Potential red flag is the amount of interest that will accrue, but loans are forgivable if you make payments through IBR for 25 years. IBRinfo.org is another fantastic resource

CONFLUENCE ALUMNI EMAIL LIST

We have a GoogleGroup, Conflunce Alumni, to keep alumni connected with each other, job opportunities and other exciting news.

You can visit the GoogleGroup online, or more easily, send an email. Emails sent to confluencealumni@googlegroups.com will be sent to all of the Alumni at once!

Magic!