Moneyzine
Contents
/Personal Finance/Federal Supplemental Educational Opportunity Grant (FSEOG)

Federal Supplemental Educational Opportunity Grant (FSEOG)

Moneyzine Editor
Author: 
Moneyzine Editor
1 mins
September 25th, 2023
Advertiser Disclosure

Definition

The Federal Supplemental Educational Opportunity Grant, or FSEOG, provides students with financial aid that, unlike a student loan, does not have to be repaid. The Free Application for Federal Student Aid, or FAFSA, is used by students to apply for a FSEOG.

Explanation

FSEOG is a program for undergraduate students that demonstrate exceptional financial need. These are families with the lowest Expected Family Contribution (EFC), and priority is given to students who also receive Federal Pell Grants. A Federal Supplemental Educational Opportunity Grant does not have to be repaid.

In 2018, a student can receive between $100 and $4,000 each year. Aid will vary with demonstrated need, the funding level provided to the college or university, as well as the policies of the financial aid office of that school. These grants can be used to pay for college expenses at 3,800 post-secondary institutions. After completing the FAFSA, a Student Aid Report will be sent to the student, outlining the Expected Family Contribution, or EFC. The Expected Family Contribution is the basis for awarding these grants.

In 2011, there were 1.3 million FSEOGs awarded, with an average award value of $716. Participating schools will credit the student's account, make payment directly to the student, or use a combination of these methods. Students must be paid at least once a term by their schools. Payment of these grants is guaranteed by the U.S. Department of Education.

Related Terms

Related Content

  • What Can Help You Meet Your Budget While Shopping for Important Items?
    Budgeting while ensuring you don't compromise on quality can seem daunting. Whether filling your pantry, updating your wardrobe, or keeping up with the latest tech, smart shopping strategies are crucial for keeping your finances in check.
    April 2nd, 2024
  • How to Make a Million Dollars in 10 Years
    Truthfully, this title should actually be “How to Make a Million Dollars in 10 Years Without Going Into Debt", but that is just getting a little too winded for my liking. It’s true though!
    March 26th, 2024
  • How to Apply Maslow’s Hierarchy to Your Money This Year
    You might vaguely remember your psychology teacher talking about Maslow. He pointed at a picture of a triangle as you nodded off in the back of the school room.
    March 27th, 2024
  • How to Tackle Multiple Savings Goals
    When there’s only so much money to go around, there are often multiple savings goals competing for your money. Think of the young professional who’d like to get a more reliable car, buy a house, and save for retirement. Or consider the young family that’s saving for college, retirement, and a bigger house.
    March 22nd, 2024
  • The Countdown to Early Retirement: 10 Expenses to Eliminate
    Dreaming of waving goodbye to the daily grind five years ahead of schedule? The road to early retirement is paved with more than good intentions; it requires a meticulously crafted strategy with surprising twists. It's not solely about what you should be doing—like diligently saving a portion of your income or investing wisely—but also about what you need to stop doing.
    March 22nd, 2024

Contributors

Moneyzine 2024. All Rights Reserved.