You can divide the amount of your AmeriCorps Education Award and use it any way you want, as long as it is used for authorized expenditures.
The education award must be used within seven years of the completion of your service.
AmeriCorps Education Award can be used to repay existing or future qualified educational loans; and
to pay for the cost of attending a qualified institution of higher education or an approved School-to-Work program, as defined by the U.S. Departments of Education and Labor.
The award isn’t limited to one loan or one school. It can be used to help pay several qualified loans or to pay the costs of attendance at several educational institutions, or to pay for a combination of loans and schools.
What kinds of schools can you attend using the awards?
You may attend an institution of higher education, including certain vocational programs. The school must have in effect a Title IV Program Participation Agreement with the U.S. Department of Education
What kinds of loans can you pay off using the awards?
-Perkins, Stafford, William D. Ford, and federal consolidation loans.