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Volunteer for college money

college-kids-with-backpacksOn April 21, 2009, President Obama signed the Edward M. Kennedy Serve America Act. The Act, which had broad bipartisan support (imagine that!), will more than triple the number of volunteer opportunities for Americans over the next decade, from 75,000 to 250,000. In addition to expanding the popular AmeriCorps program that was created by President Clinton in 1993, the legislation will create four new service corps focused on the areas of education, clean energy, health care, and assistance for veterans. One of the main goals of the legislation is to create educational awards for volunteer service that can be used to help fund a college education.

Middle and high school students can volunteer in their communities in a new Summer of Service program and earn a $500 educational award.

College-aged students can volunteer for a year and receive $5,350 for 2010, the same amount as the maximum Pell Grant award. This stipend will increase in coming years to match future increases in the Pell Grant.

And retirees can volunteer and earn a $1,000 educational award that they can transfer to a child or grandchild.

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