FSEOG; Federal Supplemental Educational Opportunity Grants
While not as well-known as the Federal Pell Grant program, the Federal Supplemental
Educational Opportunity Grant (FSEOG) program is a great source of federal funding
that you won’t need to pay back post-graduation. Your eligibility can only be determined
through the Free Application for Federal Student Aid (FAFSA), which the Department
of Education starts accepting on Jan. 1 of each year. Completing your FAFSA online
will speed up processing and give you more time to evaluate your funding options.
Remember that there is a set amount of federal funding available each year and that
funding allocations change annually, so it’s always best practice to apply as early
as possible.
What is a Federal Supplemental Educational Opportunity Grant?
The FSEOG is awarded to undergraduates with the greatest amount of unmet financial
need who also qualify for the Federal Pell Grant, the most popular federal grant.
Pell Grant recipients with the lowest expected family contributions (EFCs) will
be considered first for a FSEOG. (An EFC is determined through a standard formula
used by the Department of Education that determines how much funding you may receive
from the federal government.)
Pell Grants are usually a foundation of
financial aid, to which aid from other federal and nonfederal sources might
be added.
Who may be eligible for the FSEOG?
Your FAFSA will determine your eligibility, as some schools may not participate
in the program. Schools must contribute financially to the FSEOG program for funds
to be made available to them. For every three dollars of federal money allocated
to FSEOG, the institution is required to contribute one dollar. Currently, there
are about 4,000 schools nationwide that participate in the program, but funding
available one year may not be available the next. If you are found eligible for
the Pell Grant and your school participates in the FSEOG program, you may be eligible
for this additional federal grant funding. The federal government awards FSEOG grant
funds to participating schools as a way of supplementing Pell Grants for the neediest
of students. Schools may award funds at their own discretion to Pell eligible students
who still need additional assistance to find money for college.
How much money can I get?
Most students receive between $100 and $4,000 depending on the intended college
and how much funding they have available, your EFC and general financial need, policies
at your college’s financial aid office and when you apply. Funding levels may change
annually at your college, so fill out that FAFSA – or file a renewal FAFSA – as
soon as it’s available for the best shot at maximum funding allotments. Students
eligible for this grant award and the Pell Grant may also find they are eligible
for additional federal grants, such as the Academic Competitiveness Grant.
How will I be awarded the money?
This federal grant can also be considered a college-based grant as it is disbursed
by your intended college. If you're eligible, your school will credit your account,
pay you directly (usually by check), or combine these methods. Your school must
pay you at least once per term (semester, trimester, or quarter). Schools that do
not use semesters, trimesters, or quarters must disburse funds at least twice per
academic year.