DEFINITION of 'Federal Supplemental Educational Opportunity Grant - FSEOG'

Federal Supplemental Educational Opportunity Grants (FSEOG) provide funds to undergraduate students who demonstrate exceptional financial need, and who have not yet earned a bachelor or professional degree. The Federal Supplemental Educational Opportunity Grant is similar to the Federal Pell Grant Program, in that funds awarded do not need to be repaid. Grant amounts are issued between for $100-4,000 per year for eligible students, based on financial need, funding at the student's school, and the school's financial aid policies.

BREAKING DOWN 'Federal Supplemental Educational Opportunity Grant - FSEOG'

The FSEOG funds are dispersed by the student's school, and can be credited to the student's school account or paid directly to the student in the form of a check. The school must release funds at least once per term (semester, trimester or quarter); or at least twice per school year where semester, trimester or quarterly terms are not defined.

Priority is given to students with the lowest expected family contributions (EFCs) at the institution, and those students who are also recipients of the Federal Pell Grant Program. The amounts given in a Pell Grant change annually, according to the U.S. Department of Education. For the 2018-19 award year, which runs July 1, 2018 until June 30, 2019, the amount is set at $6,095. 

Tuition and room and board at U.S. colleges and universities come with a high price tag. Pell and FSEOG grants are typically part of a larger package of financial aid, which may include work-study programs, and federal and private loans. 

According to U.S. News and World Report, the average cost of fees and tuition (not counting room and board) for 2017-2018 was $9,528 for state residents at public universities and $21,632 for out-of-state students. The average for one year at a private college was $34,699 for one year. These prices are almost guaranteed to rise for the 2018-2019 school year.

Pell and FSEOG grants provide much-needed funds to families who cannot afford the hefty price tag of post-secondary education. 

RELATED TERMS
  1. Award Letter

    Award letter is the documentation sent from a college or university ...
  2. Student Debt

    Student debt refers to loans used to pay for college tuition ...
  3. Expected Family Contribution - ...

    Expected family contribution (EFC) is the amount of money that ...
  4. Free Application for Federal Student ...

    Students seeking governmental financial aid for college must ...
  5. Stafford Loan

    A Stafford loan is a type of federal, fixed-rate student loan ...
  6. IRS Publication 970

    IRS Publication 970 is an explanation of the tax benefits associated ...
Related Articles
  1. Personal Finance

    How to Fund a College Education

    College is expensive. Luckily, the government, many institutions and private lenders offer ways to help students pay for college.
  2. Personal Finance

    College Cost Reduction Act Helps Students Meet Payments

    This legislation can help families pay college costs and reduce student debt.
  3. Financial Advisor

    Presidential Candidates Respond to Student Debt Crisis

    The next President will have to deal with the student loan debt crisis or risk a stagnant economy for years to come.
  4. Personal Finance

    What I Learned During the College Selection Process

    Think about your child's future career path and the various ways to pay for college before deciding.
  5. Taxes

    A Look at the Cost and Tax Treatment of College

    Is there more we can do to improve the affordability of post-secondary education? We take a look at how students and colleges are taxed today.
  6. Insights

    Presidential Candidates For Students In 2016

    Early 2016 Presidential candidates are already making clear their intended strategies for solving the country's growing student loan debt issues.
  7. Financial Advisor

    Helping Clients Weigh College Financial Aid Offers

    Now's the time for reviewing financial aid offers, which can often be confusing. Here are a few tips to help clients make sense of them.
  8. Personal Finance

    Top Student Loan Providers

    Many banks and institutions offer student loans, but some offer better deals than others. Read this list of top student loan providers before you borrow.
  9. Personal Finance

    Private Student Loans For International Students

    International students can get private loans to help pay for the cost of college in the United States. Here's how.
  10. Personal Finance

    The Best Colleges for Financial Aid: Public or Private?

    What are the best colleges for financial aid? Are the much cheaper state schools a better choice than their private-school counterparts? Not necessarily.
RELATED FAQS
  1. How does Sallie Mae disburse funds?

    Understand how Sallie Mae operates as a private company and discover about the different ways in which Sallie Mae disburses ... Read Answer >>
  2. What country spends the most on education?

    Learn about the amounts that various developed nations spend on educating their young people compared to education spending ... Read Answer >>
Trading Center