DD’19 received an education award from her Americorps service this summer. I would like her to use some of it for next semester, which is due 1/15.
I was reading on the Americorps site and it says in the FAQs that they only send half of the request now and half at what I read to be the mid-point of the semester?
The cashier at her school didn’t say if they are familiar with this or how it works, but they said the tuition must be paid in full by 1/15 and if they receive money later it will be refunded to her. So if it is true the education award sends half, we may have to pay the equivalent of half out of pocket and wait for a refund later?
From the FAQs:
“AmeriCorps makes two installments, one at the beginning of the enrollment period upon which the amount is based and the second at the middle of the enrollment period. When the school approves the payment request, it indicates both the beginning date of the enrollment period and the midpoint date. If the midpoint date has already passed when the Trust receives the approved payment request, the entire amount requested/approved is paid.”
I used to work in financial aid & handled Americorps awards. It’s true that the award has to be paid in two installments. The school can schedule the first half to hit at the start of school, but the second half won’t be paid out until the midpoint of the semester. I worked it out with our bursar to allow the student to carry a balance on their account in the amount of the award. This presented issues for those who were borrowing more than tuition … in that case, they got a smaller refund at the start of the semester and then got another refund when the second half of the Americorps money came in.
It sounds like your school’s policy doesn’t allow a balance until the second half is received, so yes, you will need to pay that amount upfront and get a refund mid semester.
@kelsmom thank you for confirming. I think that’s odd that they split it up! We’ll front the money, just like when several of her outside scholarships paid after tuition was due which I also thought was kind of obnoxious…
I do have an email in to Financial Aid too, to make sure they know about it. This weekend I’ll have her start her request so hopefully we’ll see in plenty of time that the first half made it.
Someone from the school will need to authorize the award and set disbursement dates in Americorps’ system. So yes, make sure financial aid is aware that the award needs to be authorized.