What Is the Difference Between Pell Grant & a Supplemental Grant?
When low-income students apply for financial aid to attend colleges and universities, they receive grants such as federal Pell Grants and Federal Supplemental Educational Opportunity Grants from the United States Department of Education. These grants are similar, as amounts are determined by the financial information of the students’ households as well as the costs of attending schools. However, there are differences between the two grant programs, including maximum award amounts.
Other People Are Reading
-
Federal Pell Grant
-
Federal Pell Grants are awards that are at the center of all financial aid packages for low-income students. Originally called Basic Educational Opportunity Grants, federal Pell Grants are accepted at over 5,400 postsecondary institutions. To qualify for federal Pell Grants, students must fill out Free Applications for Student Financial Aid forms. On these forms, students submit their families’ financial information, which determines how much assistance they qualify for. Grant amounts are less if their families can contribute more to their school costs. Other factors determine award amounts, including the students’ school expenses and if they’re enrolled full- or part-time.
Federal Supplemental Educational Opportunity Grant
-
Over 4,000 academic institutions across the United States accepts FSEOG funds. Similar to federal Pell Grants, students’ eligibilities for FSEOGs and the amounts they receive are determined by several factors. These include the financial information submitted on FAFSA forms as well as the costs of attending schools and students’ enrollment statuses. In 2010, over $958 million in FSEOG funds were awarded to students to pay for school according to the Department of Education.
-
Importance
-
The federal Pell Grant program is the main type of assistance provided by the U.S. Department of Education. Students’ financial aid packages are based off how much they receive from the federal Pell Grant Program. The FSEOG program, however, provides additional funding for school costs but is not awarded without other funding from other sources, primarily the federal Pell Grant Program. In fact, students can only receive FSEOG funds if they are federal Pell Grant recipients.
Award Amounts
-
Award amounts for the two grant programs differ. The maximum amount students can receive in federal Pell Grants is $5,550 per academic year at the time of publication. FSEOG awards are capped at $4,000 per year. Because they are more lucrative and are given out first, it is possible for students to pay for their entire school costs for the academic year with federal Pell Grants and not receive FSEOG funds.
-
References
- Photo Credit Hemera Technologies/PhotoObjects.net/Getty Images
