The Supplemental Grant That Supports Students with the Highest Financial Need

Financial aid is an industry that’s filled with a plethora of acronyms. One of those acronyms is FSEOG: Federal Supplemental Educational Opportunity Grant (FSEOG). This federal grant program is primarily for undergraduate students who display exceptionally high financial need. Like other grants, this one does not require repayment. It is a simple “gift aid” for students designed to alleviate the financial burden they may be experiencing.

Financial aid offices can only award this federal grant funding to undergraduate students who meet specific eligibility criteria. Those circumstances include a completed Free Application for Federal Student Aid (FAFSA) form. In addition, FAFA applicants must also qualify for a Pell Grant award. Financial aid offices are responsible for devising award criteria that are consistent with federal guidelines for awarding this supplemental grant funding.

The FSEOG award falls under the campus-based program. Each year, colleges and universities that desire to receive this funding complete a Fiscal Operations Report and Application to Participate (FISAP). The FISAP is generally due on September 30 of each year. A few months later, the Education Department decides the allocation amount of additional funding a school may receive. Campus-based program funding also includes Federal Work-Study.

Each school that participates in campus-based programs receives a limited amount of funding. Therefore, financial aid offices often must make difficult choices on who to award the funding first. Completing a FAFSA proactively may increase the likelihood of receiving grant funding before the start of the academic year. Dithering too long on completing additional FAFSA requirements, like verification documentation, may reduce your chances of obtaining this supplemental funding.

Traditionally, financial aid offices determine the award amounts available to students from this grant program. Although the FSEOG program specifies that students may receive an award between $100 and $4,000, financial aid offices have broad discretion in determining the actual award amounts. To help as many students as possible, Goldey-Beacom’s Office of Financial Assistance generally awards between $400 and $1,000 per student on an annual basis. Additional funding may become available as proceeds from the campus-based program increase.

Each spring and summer, the financial aid office at Goldey-Beacom College carefully reviews students’ financial aid packages to determine who may benefit the most from this funding. This painstaking review process yields positive results, as it sometimes reduces a student’s balance to a more manageable figure. Students may also contact the College’s financial aid office to inquire about available funding. Like other financial aid awards, this funding will occur in two equal payments, one in the fall semester and one in the spring semester. Financial aid offices must distribute all campus-based program funding by the end of the fiscal year (June 30).

FSEOG is typically used for direct expenses, such as tuition, room and board, and any eligible fees that federal student aid covers. In the event you do not owe an account balance, the business office may refund you the supplemental grant funding within 14 calendar days. Students may use these excess proceeds to cover other educational indirect expenses, such as books and supplies.