I'll be finished my VISTA term on August 22 (yay!) and am trying to decide how I would get the most for my education award. I owe about $18,000 in student loans from undergrad, and am thinking about getting my MS sometime in the near future (grand total around $50,000). I've heard different things about the way the award is taxed depending on when you use it and I find the AmeriCorps website so frustrating that I wanted first hand experiences.
What's the better option here? Putting it towards my loan payments in a lump sum or using it towards tuition?