What Are Federal Supplemental Educational Opportunity Grants (SEOG) and Pell Grants?
The Federal Supplemental Educational Opportunity Grant, or FSEOG, and Federal Pell Grant are two financial awards students can apply for to cover post-secondary education expenses. These grants are funded by the federal government and are given to students who demonstrate the most need for financial help. Award amounts vary; students can receive thousands of dollars from each grant. Students must meet eligibility requirements to qualify for these grants. Recipients do not have to repay these grants.
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Federal Pell Grants
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The Federal Pell grant, once called the Basic Education Opportunity Grant, or BEOG, is one of the core sources of financial aid for students. More than 5,400 schools across the United States accept Pell Grants. Students earning their first bachelor's degree or in post-baccalaureate programs for teaching are eligible to apply for these grants. During the 2010 to 2011 academic year, the maximum Pell grant amount was $5,500. Students cannot receive Federal Pell grants from more than one school at a time.
FSEOG Grants
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The Federal Supplemental Educational Opportunity Grants, or FSEOGs, are awarded to undergraduate students who need substantial financial assistance to attend college. Grant amounts range from $100 to $4,000 per year. In 2010, more than $958 million in FSEOGs were awarded, with students receiving an average amount of $762. The federal government funds 75 percent of these grants and schools are responsible for the rest.
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Considerations
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To become eligible for Federal Pell and FSEOG grants, students must first qualify financially by submitting the Free Application for Federal Student Aid, or FAFSA, form. The information provided determines the amount of financial aid for which the student is qualified. Some of the factors involved in the determination include the cost of the school the student will attend, the student's enrollment status, whether the student is attending school full- or part-time and whether the student is going to school for the entire academic year or less.
Expected Family Contribution
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Financial eligibility is also determined by the student's Expected Family Contribution, or EFC, amounts. The EFC is determined by a formula that calculates how much the student's family can afford to put toward school costs. If a student is a dependent, her parents' incomes, assets and the family's household size are used to compute EFC amounts. If the student is independent, her eligibility is based on her financial information. The lower the EFC amounts, the higher the financial aid for which the student is eligible.
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References
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