The Federal Supplemental Educational Opportunity Grant referred to as (FSEOG), is given to students who appear to have the lowest Expected Family Contribution (EFC) and/or are in dire need of financial aid. EFC is determined through the size of an individual’s family and their overall income ratio. Like the Pell Grant, the FSEOG grant supplies recipients with essentially “free money” that does not need to be repaid after student graduation. Therefor, the FSEOG grant is a great option for those who are weary of falling into debt from college expenses.
FSEOG Contribution Amounts
Students who do receive financial aid from the FSEOG grant are awarded anything from $100.00 to $4,000.00. In 2009, the amount of money given to students reached a total of $958,816,000. The amount a student receives is determined by their specific financial situation and Expected Family Contribution. In addition, all the finances awarded from the program are eligible for use towards some 4,000 colleges and universities. The money given by the FSEOG is only available to students who are currently enrolled in school or have already been accepted for future enrollment.
Student Application Process
For those students currently finishing high school or other courses prior to college, it is best to apply for the FSEOG grant quickly due to the longevity of the application process, and because the available funding could be granted before the completion of the process. The reason being that the federal government allocates the grant money to schools where they decide on overall distribution amounts, meaning the actual college or school is responsible for determining who and when a student receives their financial aid.
Applying for the FSEOG requires no more work then applying for the Federal Pell Grant. All that is required of applicants is completion of the FAFSA form and some financial information for your EFC.
Also take note that students who have benefited from the Federal Pell Grant are automatically provided with first priority when applying for the FSEOG. You can learn more details about the application process and other details by contacting any financial aid office. Once again this is a needs-based program and applying sooner then later is crucial to putting you ahead of competition.
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