Title 45 Part 2525
Title 45 → Subtitle B → Chapter XXV → Part 2525
Electronic Code of Federal Regulations e-CFR
Title 45 Part 2525
§2525.10 What is the National Service Trust?
The National Service Trust is an account in the Treasury of the United States from which the Corporation makes payments of education awards, pays interest that accrues on qualified student loans for AmeriCorps participants during terms of service in approved national service positions, and makes other payments authorized by Congress.
[64 FR 37414, July 12, 1999]
In addition to the definitions in §2510.20 of this chapter, the following definitions apply to terms used in parts 2525 through 2529 of this chapter:
AmeriCorps education award. For the purposes of this section, the term AmeriCorps education award means the financial assistance available under parts 2526 through 2528 of this chapter for which an individual in an approved AmeriCorps position may be eligible.
Cost of attendance. The term cost of attendance has the same meaning as in title IV of the Higher Education Act of 1965, as amended (20 U.S.C. 1070 et. seq.).
Current educational expenses. The term current educational expenses means the cost of attendance, or other costs attributable to an educational course offered by an institution of higher education that has in effect a program participation agreement under Title IV of the Higher Education Act, for a period of enrollment that begins after an individual enrolls in an approved national service position.
Economically disadvantaged youth. For the purposes of this section, the phrase economically disadvantaged youth means a child who is eligible for a free lunch or breakfast under the Richard B. Russell National School Lunch Act (42 U.S.C. 1758(b)).
Education award. For the purposes of this section, the term education award refers to the financial assistance available under parts 2526 through 2528 of this chapter, including AmeriCorps education awards, Silver Scholar education awards, and Summer of Service education awards.
Educational expenses at a Title IV institution of higher education. The term educational expenses means—
(1) Cost of attendance as determined by the institution; or
(2) Other costs at a title IV institution of higher education attributable to a non-title IV educational course as follows:
(i) Tuition and fees normally assessed a student for a course or program of study by the institution, including costs for rental or purchase of any books or supplies required of all students in the same course of study;
(ii) For a student engaged in a course of study by correspondence, only tuition and fees and, if required, books, and supplies;
(iii) For a student with a disability, an allowance (as determined by the institution) for those expenses related to the student's disability, including special services, personal assistance, transportation, equipment, and supplies that are reasonably incurred and not provided for by other assisting agencies; and
(iv) For a student engaged in a work experience under a cooperative education program or course, an allowance for reasonable costs associated with such employment (as determined by the institution).
G.I. Bill approved program. For the purposes of this section, a G.I. Bill Approved Program is an educational institution or training establishment approved for educational benefits under the Montgomery G.I. Bill (38 U.S.C. 3670 et seq.) for offering programs of education, apprenticeship, or on-job training for which educational assistance may be provided by the Secretary for Veterans Affairs.
Holder. The term holder means—
(1) The original lender; or
(2) Any other entity to whom a loan is subsequently sold, transferred, or assigned if such entity acquires a legally enforceable right to receive payments from the borrower.
Institution of higher education. For the purposes of parts 2525 through 2529 of this chapter, the term institution of higher education has the same meaning given the term in section 481(a) of the Higher Education Act of 1965, as amended (20 U.S.C. 1088(a)).
Period of enrollment. Period of enrollment means the period that the title IV institution has established for which institutional charges are generally assessed (i.e., length of the student's course, program, or academic year.)
Qualified student loan. The term qualified student loan means any loan made, insured, or guaranteed pursuant to title IV of the Higher Education Act of 1965 (20 U.S.C. 1070 et seq.), other than a loan to a parent of a student pursuant to section 428B of such Act (20 U.S.C. 1078-2), any loan made pursuant to title VII or VIII of the Public Service Health Act (42 U.S.C. 292a et seq.), or any other loan designated as such by Congress. This includes, but is not necessarily limited to, the following:
(1) Federal Family Education Loans. (i) Subsidized and Unsubsidized Stafford Loans.
(ii) Supplemental Loans to Students (SLS).
(iii) Federal Consolidation Loans.
(iv) Guaranteed Student Loans (predecessor to Stafford Loans).
(v) Federally Insured Student Loans (FISL).
(2) William D. Ford Federal Direct Loans. (i) Direct Subsidized and Unsubsidized Stafford Loans.
(ii) Direct Subsidized and Unsubsidized Ford Loans.
(iii) Direct Consolidation Loans.
(3) Federal Perkins Loans. (i) National Direct Student Loans.
(ii) National Defense Student Loans.
(4) Public Health Service Act Loans. (i) Health Education Assistance Loans (HEAL).
(ii) Health Professions Student Loans (HPSL).
(iii) Loans for Disadvantaged Students (LDS).
(iv) Nursing Student Loans (NSL).
(v) Primary Care Loans (PCL).
Silver Scholar education award. For the purposes of this section, the term Silver Scholar education award means the financial assistance available under parts 2526 through 2528 of this chapter for which an individual in an approved Silver Scholar position may be eligible.
Summer of Service education award. For the purposes this section, the term Summer of Service education award means the financial assistance available under parts 2526 through 2528 of this chapter for which an individual in an approved Summer of Service position may be eligible.
Term of service. The term term of service means—
(1) For an individual serving in an approved AmeriCorps position, one of the terms of service specified in §2522.220 of this chapter;
(2) For an individual serving in an approved Silver Scholar position, not less than 350 hours during a one-year period; and
(3) For an individual serving in an approved Summer of Service position, not less than 100 hours during the summer months of a single year.
[59 FR 30711, June 15, 1994, as amended at 64 FR 37414, July 12, 1999; 65 FR 77821, Dec. 13, 2000; 67 FR 45360, July 9, 2002; 75 FR 51410, Aug. 20, 2010]