Taxes

Printer-friendlySend to friend

The Segal AmeriCorps Education Award, unlike most other scholarships and fellowships, is subject to federal tax in the year you have funds sent from your National Service Trust account to a school or lender. (If you use your award in 2011, you'll report it on the taxes you file by April 15, 2012.)

The end-of-term VISTA cash stipend is also subject to taxes.

When the National Service Trust pays interest off on your student loans, the amount paid is also considered taxable income.

• Is the tax going away?
• How much do members pay in taxes on their awards?
• What are tax strategies that might save money?
• What is the process for paying taxes on the award?
• Where can I learn more? You can find the official word on the Tax Implication of the Segal AmeriCorps Education Award through the Corporation for National and Community Service web site.