As noted on the Home Page of this guide, there are many reasons to participate in the Work Study program in general. By working specifically in a Community Service position those benefits can be further enhanced in a variety of ways.
For more information about time card completion for Community Service Students, please see the Timesheet Completion Tab of this guide.
Evidence shows that employers are looking for recent graduates to have internships and work experience during college, and in many cases value this more than your academic experience. The article below from The Atlantic talks more about this:
Below is a link to an article on Monster.com (the career search site) about the benefits of participating in an internship while in college: