Ed Award Jeopardy Template

Basic Info	How It's Used	What's It For	Taxes and loans	True or false
100 The Segal AmeriCorps Education Award What is the full name of our award?	100 Seven years from the date you complete your term How many years is the award available to use?	100 Any institution of higher education that processes student federal aid What is a Title IV school?	100 Loan payments are postponed (or reduced) but interest continues to accrue during this period What does it mean if your loan in under forbearance?	100 False, it can only be transferred to the child, stepchild, foster-child, grandchild, or step-grandchild of the transferor You can transfer your award to a parent or sibling.
200 1700 hours How many hours do you have to serve to earn the full award amount?	200 Using the my.americorps.gov website How can you access and manage your education award?	200 Yes, there are many institutions abroad that are considered Title IV schools Can you use your award to study abroad?	200 The National Service Trust Fund What account holds onto your award until you have completed your service?	200 False, private lenders are not considered qualified student loans You can use your education award to pay off private loans.
300 A person cannot earn more than the value of two, full-time education awards How many times can a person earn the award?	300 • Successfully complete a term of service • At least 55 years old at the start of the awards service period • Transfer must go to child, stepchild, foster child, grandchild or step grandchild What are the requirements for transferring an award?	300 • Title IV college or university • Apprenticeships / on-the-job training • Trade, vocational, technical schools • As well as non-degree settings like enrichment classes at community college What kinds of schooling can you use your award for?	300 Cancel or waive penalties and interests How can the Taxpayer Relief Act can help you?	300 Strong possibility of true, it is at the discretion of the financial aid office. Communicating with the financial aid office about your needs betters your chances You can use your education award to purchase a laptop or other gear.
400 The full amount is equivalent to the max value of the Pell Grant for the fiscal year Why does the award amount change?	400 • To pay current educational expenses • To repay qualified student loans • Transferred to your child Three ways you can use your award	400 • Fafsa School Code Search • Nationalservice.gov Where can you find information regarding which schools qualify to receive the award?	400 • It combines all or multiple student loans into one bigger loan • Provides alternative repayment plans, making payments manageable What does loan consolidation do?	400 True! You can use your award all at one time or you can use it in increments until it is used up or expires You can use your award all at once or at separate times.
500 $6095 What is the amount for our 2019-2020 award?	500 Can pay off federal student loans & state agency student loans What type of loans can you pay off with the award?	500 • Check your award balance and value • Request payments to educational institution and loan holder • Request forbearance on qualified student loans • Update contact information • Check living allowance and tax statements What are two ways My Americorps portal can help you?	500 • Yes, all payments are considered taxable income and should be included in your tax returns Are payments made from your education award considered taxable income?	500 True, but they can only make a payment until after you complete a term of service and depending the type and length of service Does the National Service Trust Fund pay the interest that accrued on your student loan?

Education Award

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