Upon completion of a term of service, members sign an End of Term Form that the NSCC forwards to The National Trust. The National Trust then mails a voucher to members within four to six weeks. When ready to use the education award, members fill out a portion of the voucher and submit it to their lender or to the institution they plan to attend. The lender or institution completes another section and sends it to the National Trust for payment. The payment is then made to the institution and a notice is sent to the member, along with a new form reflecting any balance in the education award account.
Members have seven years from the end of a term of service to use the award.
Education awards are considered taxable income in the year they are used. If a member uses a portion of an education award in a particular year, only the portion used will be subject to income taxes for that year. If no payment is made from a member's account during a year, there is no tax liability from the award. However, recent changes in the tax law make it possible for many AmeriCorps member to reduce, and in some cases, eliminate their tax liability, depending upon their specific circumstances. This is the National Trust Hotline.