45 CFR 2526.50 - Is there a limit on the total amount of education awards an individual may receive?
(a)General Limitation. No individual may receive more than an amount equal to the aggregate value of two full-time education awards.
(b)Calculation of the value of an education award. For the purposes of this section, the value of an education award is equal to the actual amount of the education award received divided by the amount of a full-time education award in the year the AmeriCorps or Silver Scholar position to which the award is attributed was approved. Each award received will be considered to have a value between 0 and 1. Although the amount of a full-time award as defined in § 2527.10(a) may change, the value of a full-time award will always be equal to 1.
(c)Calculation of aggregate value of awards received. The aggregate value of awards received is equal to the sum of:
(1) The value of each education award received as a result of successful completion of an approved AmeriCorps position;
(d)Determination of Receipt of Award. For purposes of determining the aggregate value of education awards, an award is considered to be received at the time it becomes available for an individual's use.
- 45 CFR 2527.10 — What Is the Amount of an Education Award?
- 45 CFR 2522.240 — What Financial Benefits Do AmeriCorps Participants Serving in Approved AmeriCorps Positions Receive?
- 45 CFR 2530.60 — What Is the Impact of Transferring or Receiving a Transferred Education Award on an Individual's Eligibility to Receive Additional Education Awards?
- 45 CFR 2522.235 — Is There a Limit on the Number of Terms an Individual May Serve in an AmeriCorps State and National Program?
- 45 CFR 2522.220 — What Are the Required Terms of Service for AmeriCorps Participants?
- 45 CFR 2530.50 — Is There a Limit on the Amount of Transferred Awards a Designated Individual May Receive?