Common use of Education Award Clause in Contracts

Education Award. Upon successful completion of the Member’s term of service, a full-time member is eligible to receive an education award of $_______. The education award amount is based on previous terms of service as outlined by the Corporation for National and Community Service. Prorated benefits may be paid only if a participant is released for a compelling personal circumstance after serving no less than fifteen percent (15%) of the contracted time. The Member will receive a virtual voucher which may be used toward future educational costs or toward repayment of qualified student loans as defined by the Trust and/or the Corporation. A Member will have seven (7) years after the completion of service to use the education benefit. The education award is taxable in the year that it is used. The member understands that his/her failure to disclose to the program any history of having been released for cause from an AmeriCorps program will render the member ineligible to receive the education award. Full-time members are eligible to receive health insurance coverage at no cost to the member. AmeriCorps requires all members to enroll in their health plan UNLESS proof of other coverage is submitted. If a member elects not to enroll in the XYZ AmeriCorps healthcare plan they must verify that they are covered by a Minimum Essential Coverage compliant healthcare policy. If a member elects not to participate in the XYZ AmeriCorps healthcare plan and loses their coverage during their term of service through no fault of their own they are eligible to participate in the XYZ AmeriCorps healthcare plan. The member must notify the program if their eligibility status for healthcare care insurance changes during their term of service.

Education Award. Upon successful completion of the Member’s term of service, a full-time member is eligible to receive an education award of $_______. The education award amount is based on previous terms of service as outlined by the Corporation for National and Community ServiceAmeriCorps. Prorated benefits may be paid only if a participant is released for a compelling personal circumstance after serving no less than fifteen percent (15%) of the contracted time. The Member will receive a virtual voucher which may be used toward future educational costs or toward repayment of qualified student loans as defined by the Trust and/or the CorporationAmeriCorps. A Member will have seven (7) years after the completion of service to use the education benefit. The education award is taxable in the year that it is used. The member understands that his/her failure to disclose to the program any history of having been released for cause from an AmeriCorps program will render the member ineligible to receive the education award. Full-time members are eligible to receive health insurance coverage at no cost to the member. AmeriCorps requires all members to enroll in their health plan UNLESS proof of other coverage is submitted. If a member elects not to enroll in the XYZ AmeriCorps healthcare plan they must verify that they are covered by a Minimum Essential Coverage compliant healthcare policy. If a member elects not to participate in the XYZ AmeriCorps healthcare plan and loses their coverage during their term of service through no fault of their own they are eligible to participate in the XYZ AmeriCorps healthcare plan. The member must notify the program if their eligibility status for healthcare care insurance changes during their term of service.