45 CFR 2529.10 - Under what circumstances will the Corporation pay interest that accrues on qualified student loans during an individual's term of service in an approved AmeriCorps position or approved Silver Scholar position?
(1) The individual successfully completes a term of service in an approved AmeriCorps position or approved Silver Scholar position; and
(b)Amount. The percentage of accrued interest that the Corporation will pay is the lesser of -
(1) The product of -
(i) The number of hours of service completed divided by the number of days for which forbearance was granted; and
(ii) 365 divided by 17; and (2) 100.
(c)Supplemental to education award. A payment of accrued interest under this part is supplemental to an education award received by an individual under parts 2526 through 2528 of this chapter.
(e)Suspended service. The Corporation will not pay any interest expenses that accrue on an individual's qualified student loan during a period of suspended service.