Payment of Interest on Qualified Student Loans. AmeriCorps Members who have successfully completed a term of service are eligible to have the National Service Trust pay up to 100% of the interest that accrued on their qualified student loan(s) during their term of service. The loan must have been in forbearance, deferment or a grace period during this period. To have the Trust pay all or a portion of the interest accrued on qualified student loans, the Trust must receive verification from the WSC that the Member has successfully completed their term of service. The Member must complete the Interest Accrued During National Service Form using the MyAmeriCorps online system. This payment, like payments from an education award, is considered taxable income in the year the payment is made.
Appears in 5 contracts
Samples: Member Service Agreement, Member Service Agreement, Member Service Agreement
