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2019-06-10

Welcome to the City Year Alumni Community!

You’ve put in a year of dedication and long days serving as a tutor, mentor and role model to make a difference in the lives of your students. You’ve received 300+ hours of training, learned a lot and, we hope, also had fun along the way. Now that you’re looking ahead to new goals, take a look at how a Segal AmeriCorps Education Award—worth $6,095—can help you reach them.

Whether you plan to earn an undergraduate or graduate degree, want to learn a new trade, or take classes to enhance a skill, your service makes you eligible for this award to cover academic costs. To make the most of it, be informed and plan ahead by taking a look at the tips below.

You can use the Segal Award at Title IV schools

While you can use your education award to pay off qualified existing student loans, you can also use the award to pay for additional education. You can apply your education award at any school listed as Title IV. (Don’t worry—there are a lot of them!)

What are Title IV schools? They are institutions that process U.S. student financial aid, including many universities, colleges, trade schools, outdoor education programs, schools overseas and international programs. Using the award at Title IV schools also may enable you to travel.

 Read more about how one of our alumni used her award to travel overseas.

University partners will match your award

Many schools recognize that the skills City Year AmeriCorps alumni bring to the table are valuable assets to their community. They offer additional tuition discounts and sometimes scholarships to match your education award, dollar for dollar.

"Between the scholarship my school offers City Year alumni and the Segal Education Award I earned for completing my City Year AmeriCorps year, going back to school was now something I could afford," said Izzi Hernandez-Cruz, City Year Columbia ‘15. "These partnerships and educational awards are two tools that demonstrate how much City Year values the leadership development of both their corps and alumni."

Take advantage of your Segal Award within seven years

If you're not sure how to use your award right now, no problem. You have seven years from the date you complete your term of service to use your education award funds.

If you serve an additional year with AmeriCorps or the Peace Corps during that seven-year period, you may be eligible to receive an extension. However, it’s very important to submit your request for an extension before your seven years expire—and the best way is through the My AmeriCorps portal. Take a closer look at the rules here.

Pay taxes on your award! Uncle Sam views the award as income

This award is different from a scholarship or fellowship. It's important to know that when you spend your award, it will be subject to federal taxes. It's important to factor that cost into your plans!

Many alumni choose to spend the award over the course of several years to minimize the taxes they need to pay in a single year.  

Still have questions about your Segal AmeriCorps Education Award?

The Corporation for National and Community Service offers useful tools and resources that can help answer your questions. Take the trouble to read it and make the most of your education award.

 

This post is updated from a version published in 2017.

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