Will AmeriCorps pay off all the interest that accumulates on my student loans? Teri Hines March 09, 2018 01:32 Updated Follow Check out AmeriCorps’s accrued interest formula resource. Related articles How is interest paid on my loan by AmeriCorps? What is the forbearance process? Does AmeriCorps pay interest on my current student loans? What are the Teacher Education Assistance for College and Higher Education (TEACH) Grants? How do I pay my bill?