FSEOGs and the Part-Time Student

FSEOGs and the Part-Time Student

There are many ways a full time or a part-time student can fund their education. They can assume the responsibility for various loans, they might look for scholarships and they can review their potential for financial aid.

There are many federally funded programs for student financial aid and support. Some of the programs involve loans that are repaid over the course of many years for a small interest rate, others involve no repayment at all, and these are referred to as grants.

The most commonly awarded federal grant is the Pell Grant. This is delivered to students who are pursuing their first college degree, the Bachelor’s degree. They can be made to students at an enrollment status other than “full time”, but the amounts will be less than for a full time student.

A Pell Grant opens the door to further aid opportunities. Usually other federal grants cannot be awarded to a student who has not successfully applied for Pell Grant funding.

The second most popular grant sought out by students with financial need is the Federal Supplemental Educational Opportunity Grant, or the FSEOG. This is made to students with “exceptional” financial need. The funds are provided to approximately four thousand colleges and universities each year. The monies are delivered only once a year, and each school gets a fixed amount.

FSEOG funds must be used up completely by the schools that receive them, or they face reduced amounts or even a loss of the support. The FSEOGs are determined on an individual, student-by-student basis by the financial aid office of the school.

Students enrolled in a full year, full time scenario receive the largest award amounts, though all students who meet the financial criteria can have access to the FSEOG funds that remain in the school’s hands. For example, a student enrolled in a single semester on a part-time basis can still have the financial support of the FSEOG if they demonstrate the financial need, and if they have been awarded a Pell Grant to cover some of their educational expenses. They must also apply on time; which means before the money runs out.

Most financial aid offices encourage students to apply for FSEOG funding as soon as possible because of the limited amounts available. Once a school has distributed their annual amount, a qualified student will not be able to receive any support regardless of how worthy they are for the funding.