Tuesday, December 28, 2010

How much money for college can I get with the FSEOG?

The FSEOG or Federal Supplemental Educational Opportunity Grant works in the same way as most other types of government and non-government grants. Students are awarded the FSEOG based upon their financial need- the more money you need for school, then the more likely you will be to qualify for the maximum available under the FSEOG.
However, in most cases you need to qualify for and be awarded the federal Pell grant in order to be considered for the FSEOG. The total amount of your award will depend upon your unique circumstances.
For those who qualify for the FSEOG, the minimum award amount is $100. Many students have complained, stating that this amount does nothing to help pay for their college expenses. However, these same students fail to consider that if they are getting a $100 award via the FSEOG, they have probably received numerous other types of federal, state, and other forms of aid, especially the Pell grant. In any case, $100 can pay for books, laboratory fees, and many other expenses.
The maximum that can be awarded via the FSEOG is $4000 per year for undergraduate students. This is in addition to the federal Pell grant, making the total amount of awards very high- probably enough to pay for school entirely. In some cases, students who are in an accelerated program to finish their degrees in the final 12 months of a particular degree program may be able to receive 2 Pell grants in a year, plus the FSEOG. This is a great deal of free money for college that you don’t ever have to pay back.
Students may be awarded anywhere in between the amounts stated above. Because the FSEOG is reserved for students with exceptional financial need, not being granted a large award amount isn’t a reflection of a student personally or academically, but financially. According to the federal government (and common sense), a student and their parents should be expected to contribute to their own educational expenses in addition to the aid they receive from the government. In this way, the FSEOG shares the cost of education with the government, the community, the school, and the family of the student. It’s an excellent system that works for those who apply it well.
In order to learn of you qualify for the FSEOG, you simply need to fill out a FAFSA or Free Application for Federal Student Aid, available at more than 4,000 schools and universities nationwide. The FAFSA is the FSEOG application.

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