Federal Supplemental Educational Opportunity Grant – It will always be great to have an opportunity to study in college. This could open a chance for better future. Unfortunately, not all young people can have the same chance of continuing their study to university.
Some of them are having financial difficulties, which keeps their dream to have higher education level away from them. This is such a disaster for them because such of adversity can make them think that their chance to have better future will be decreasing.
Luckily, there are many scholarships and other financial solutions offered to help people who have financial difficulty to continue study to college. Federal Supplemental Educational Opportunity Grant is just one perfect example of financial aid to keep people who need money to fund their education expenses.
What is Federal Supplemental Educational Opportunity Grant?
The Federal Supplemental Educational Opportunity Grant (FSEOG) is a need-based financial aid grant. It is from the federal government to eligible college undergraduate students. Unlike loans, this grant does not require repayment. The amount awarded through the FSEOG can range from $100.00 to $4,000.00 per academic year. Well, it depends on the severity of the student’s financial need.
In 2009 and 2010, a total of $958,816,000 was allocated for financial aid students, with no change in the total amount awarded between the two years. Applicants under the Federal Student Aid programs received an average of $762.00 each. But there was no specific limit on the amount awarded. Moreover, some students received grants of up to $4,000.00, based on the severity of their financial need.
Additional statistics from 2010 include:
- Total funding available: $958,816,000
- Number of New Awards Anticipated: 1,302,740
- Average New Award: $736
- Range of New Awards: Up to $4,000
Recipients typically receive the award either by check or through direct credit by the school. Notification of the award is sent via email or traditional mail. For further inquiries, applicants may contact the Federal Student Aid Information Center at (800) 433-3243 or (800) 4FED-AID.
The Federal Supplemental Educational Opportunity Grant (FSEOG) offers financial assistance to students with significant financial need. This grant is jointly funded by the federal government, providing up to 75% of the funds, with the remaining portion covered by the school. It’s important to note that the availability of FSEOG funding is not guaranteed from year to year and may vary depending on the school’s allocation.
Purpose
Like many of the other federally funded grants, FSEOG is designed to offset tuition and related expenses for students with significant financial need. For more information on this and other need-based federal awards, visit this link: www.federalstudentaid.ed.gov or call 1-800-433-3243.
Requirement
Just like other scholarships and financial aids, Federal Supplemental Educational Opportunity Grant has requirements to meet. Follow the instructions below to be eligible for Federal Supplemental Educational Opportunity Grant or also known as FSEOG.
- Holds U.S citizenship or eligible non-citizen
- Have never been obtaining bachelor’s degree
- Should not be failing of federal student loan
- Should not have overpayment in Federal Pell Grant
Application Process
Once you think that you can meet the requirements above, the next step is applying for the grant. The application process sounds easy, but we need to be careful when filling out the application form online because even a little slip may ruin your plan.
The application process of Federal Supplemental Educational Opportunity Grant starts with filling out the online free application for Federal Student Aid or also known as FAFSA. This process is basically to let the university know how much you need. Moreover, it will help the university to determine the financial need of the applicant way more easily.
For your information, Federal Supplemental Educational Opportunity Grant does not require the recipient to pay the fund received back. This could be a better financial solution to fund your study compared to Federal Pell Grant that requires the recipient to pay back the fund.
How much money can we get through Federal Supplemental Educational Opportunity Grant? Perhaps, you also have this kind of question in your mind. Well, that is normal since money is the only reason we are here. The amount of money we receive from this program may vary. It ranges from $100 and $4,000 a year.
Since FSEOG is a program based on the need of recipient, those who are in need the most will get the fund. It means that the lesser money we have, but in the meantime, we need a substantial amount of money, the chance to obtain the fund is higher.
If You Are Eligible
If you are eligible, you will receive notification either via email or postal delivery. This notification will include details about the awarded amount, as well as any adjustments to other financial aid provided by your school due to this award.
If you qualify for funds, the Office of the Bursar will allocate the grant award to cover outstanding fees such as tuition, room and board, and other institutional charges. Alternatively, you may receive a check, in your name, which you can apply for these expenses. Additionally, you might be informed about a combined payment method, where a portion of the funds is sent directly to your school, and the remaining portion is issued to you via check.
How to Maximize Federal Supplemental Educational Opportunity Grant
To optimize your Federal Supplemental Educational Opportunity Grant (FSEOG), it’s essential to focus on minimizing your Expected Family Contribution (EFC). This influences the grant amount directly. Consider transferring investments such as stocks or bonds to a grandparent’s name during your education. Hence, you can avoid their impact on your FAFSA.
Additionally, maximize contributions to retirement plans, that you do not have to report it on the FAFSA. Hence, it will reduce reported savings. Plan significant purchases strategically to prevent excess cash from affecting your financial aid application.
Furthermore, if feasible, aim to have multiple household members attending college simultaneously. This may result in higher allowances from the government. Lastly, if you’re classified as an independent student, including your parents’ information on the FAFSA could potentially increase your eligibility for aid.
Alternative
If a school does not utilize its entire allotment of FSEOG funds, the Department of Education may reduce the school’s allocation for the subsequent school year. For students who do not qualify for the FSEOG grant, there is an alternative option in the form of the Pell Grant. Like the FSEOG, the Pell Grant does not require repayment and is available to support students with financial need.
So, what do you think? If you think that the amount of money offered by this program can cover your college expenses, and then you should apply for this program as soon as possible. Continue your study, and pursue your bright future through education with FSEOG.
Images: fa.oregonstate.edu
https://www.fseog.com/
