[Oasfaa] AmeriCorps Online Payment System

[Caddell, Angela]

Colleagues:
 
Below is information recently shared with institutional business
officers about the new online system for processing AmeriCorps Education
Awards.  The automated system is designed to make it faster and easier
for institutions to receive payments from the National Service Trust.
 
Since financial aid administrators may be directly involved in handling
Education Awards redeemed on their campus, we wanted to share the same
information with you.  Questions or concerns about the online system and
EFT process can be directed to epayments at americorps.gov and
trustcomm at cns.gov, respectively.   Local support is also available from
the Oklahoma Community Service Commission at 405-235-7278.
 
I hope this information is helpful to you.  Best regards.
 
Angela
 
 
Angela O. Caddell
Director, Oklahoma Money Matters
Oklahoma Guaranteed Student Loan Program
a division of the Oklahoma State Regents for Higher Education
P.O. Box 3000
Oklahoma City, OK  73101-3000
405-234-4495 (phone)
800-970-OKMM (toll-free)
405-234-4390 (fax)
acaddell at ogslp.org
 
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Members of the Oklahoma Association of College and University Business
Officers:
 
As you know, AmeriCorps members who successfully complete a term of
national service are eligible for an Education Award from the National
Service Trust of the U.S. Treasury.  Education Awards can be redeemed
within seven years to pay current educational expenses at any Title IV
institution, to repay qualified student loans, or to pay expenses
incurred while participating in an approved school-to-work program.  The
amount of the Education Award varies based on the hours of service
completed by the recipient.
 
The Corporation for National and Community Service has implemented the
new AmeriCorps Online Payment System for the National Service Trust.
This automated system allows AmeriCorps members and alumni to create and
submit loan forbearance and interest accrual requests, and manage
Education Award accounts, completely online.  It also allows
institutions to receive payments electronically from the National
Service Trust.
 
The automated payment process and online portal offer many benefits to
your institution, including:

*	accelerated receipt of payments and compatibility with existing
EFT functionality;  
*	reduced administrative burden through auto-populated and system
verified information; 
*	electronic records of forms, eliminating the need to scan or
copy documents for storage; and 
*	easy access to online assistance.

The system is now accepting registrations from financial and educational
institutions.  To exchange forms and receive payments electronically,
your institution must register at
http://www.americorps.org/for_organizations/trust/index.asp
<http://www.americorps.org/for_organizations/trust/index.asp> .  The
site provides guidelines for assigning user permissions, identifying
account(s) to receive disbursements, and implementing administrative
procedures, among other operational protocols.  Additionally,
information about security measures and a helpful Frequently Asked
Questions section are available for review at the same URL.   
 
This system is intended to expedite and simplify the processing of
AmeriCorps paperwork and payments on your campus.  Institutional
officials can send general questions about the online payment system to
epayments at americorps.gov, and specific inquiries about the National
Service Trust's EFT process can be directed to trustcomm at cns.gov.  Local
assistance is also available from the Oklahoma Community Service
Commission, the governing agency for state AmeriCorps programs, at
405-235-7278. 
 
 
 
 
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