Using the Education Award

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Would someone be willing to explain to me how the Education Award works exactly? I know that after you satisfy your year-long commitment you receive it, but this process was not explained to me in-depth. Also, I know that it will be taxed, but how much will be taken out in taxes?
thanks,Jay Chandler 

Great resource finding that webinar, Tamara.

The short of it is that you log into the My AmeriCorps portal, click on My Education Award and there should be a link for making an Education Award request after your award is earned (which takes a week or so after your last day of service.)

The portal says that payments take a few days to a week to be processed by the school or lender, but I always made my requests as soon as possible just in case there was a hiccup. That is to say, 2 weeks to a month in advance because I'm paranoid like that.

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