Students who are in extreme financial need can qualify for the FSEOG grant program. FSEOG stands for the Federal Supplemental Educational Opportunity Grant program. This is a needs-based grant, so FSEOG program recipients must apply through first filing the FAFSA. Recipients can use the money to attend one of the nearly 4,000 colleges and universities who participate in the program. The program awards money to the students who have the lowest Expected Family Contribution on the FAFSA (Free Application for Federal Student Aid). Expected Family Contribution is figured based on a variety of things, including family size, income level, and net assets.
The program gives the participating educational institutions the ability to determine the amount of FSEOG money that needy students can receive. The money is available to students who are either already enrolled in the school or are approved for enrollment. Also, students who are receiving the Federal Pell Grant are given first priority for the FSEOG program.
Students who are attending a school that participates in the FSEOG program need to apply for the grant as early as possible. As with most federal grants, the application process can take a while, and the money could be gone before the process is complete. This happens because the federal government gives the money directly to the school to distribute as it sees fit. The school decides who receives the money and when they receive it. Students who delay their application could miss their opportunity to receive the grant.
The amount of money a FSEOG aware will be varies tremendously. The most it can be is $4,000 for a given school year. However, smaller awards, as small as $100, are also possible. Again, the school is allowed to decide how much to award, and the trend is to give the largest awards to the neediest students.
If you are a student who is in need of help and qualified for the Pell Grant after filling out the FAFSA, you can apply for the FSEOG as soon as you are enrolled or approved for enrollment in your chosen school. Start by contacting the financial aid office to find out what the application process is. You have to be proactive. As with most grants and scholarships, the school will not hand this money to you without a little work. As about whether or not you qualify, and get your application in early. This is the best way to get a FSEOG grant if you qualify for it.