You are eligible for interest accrual payment benefits as an AmeriCorps member. To read more about what is available to you, please visit Relay’s AmeriCorps website. The Resources page features a Loan Forbearance and Interest Accrual Payments section that includes links to helpful information.
Will I still qualify for interest accrual benefits if I was prevented from completing my full term of service due to COVID-19?
Individuals who have successfully completed a term of service in an AmeriCorps program are eligible to have the National Service Trust (Trust) pay up to 100% of the interest that accrued on their qualified student loan during their service. These are the conditions that apply:
- An interest payment can only be made after you have exited the program and have earned a full, partial, or pro-rated education award.
- The percentage of interest accrual benefit that you are eligible to receive is based upon your total service hours accrued, or the amount of time (in days) you were enrolled when you exited.
- If you qualify for additional hours/time under the CARES Act, such hours/time will be provided to the Trust and be considered “hours/time served.”
The Trust will only pay interest on qualified student loans, as described on the Using Your Segal AmeriCorps Education Award web page.