Volunteerism and College Costs
Posted on May 4, 2009 by Mark Schlesinger
I want to make sure this blog has given enough air time to the federally-initiated community service programs that have recently been improved and enlarged with more funding and more generous educational grants. These are an important option for people seeking new ways to pay for college. Of course, they are also wonderful options for learning life lessons as you help others.
I found this editorial on an online news site in Ohio. It provides an excellent summary of what’s new, and with an eye to the variety of volunteer efforts in which you can get involved. The following paragraph from the item, entitled, “Encouraging national service is wise investment,” describes the financial implications for anyone contemplating these options. If you’re like me, you’ll be surprised to learn that awards earned by young and old can be transferred to others:
Participation in AmeriCorps can also help a person pay for a college education. The new legislation has increased education awards for AmeriCorps participants from $4,725 to $5,350. That money can be used to help pay for college or help pay off student loans. Future increases would be tied to increases in the maximum size of Pell grants. Sixth graders through high school seniors could earn a $500 education award for helping in their neighborhoods during a new summer program. And, the education benefit is not limited to young people. Those age 55 and older could also earn $1,000 education awards by getting involved in public service. Those awards can be transferred to a child, grandchild or even someone they mentored.
An appealing combination: serve, earn, and learn.
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