As you might have guessed, need based grants are awarded to students that demonstrate financial need. The Federal Supplemental Education Opportunity Grant is a perfect example. Grants are awarded on an annual basis and require a new financial aid application each year to determine eligibility. The most significant benefit is that grants do not have to be earned or repaid, in most cases. Grant funds may be used for tuition, fees, books, room, board or other educational expenses.
The Federal Supplemental Education Opportunity Grant or FSEOG is a need-based grant awarded to students with the greatest need or the lowest Expected Family Contribution. The Federal Supplemental Education Opportunity Grants or FSEOG is a legitimate financial aid option for funding your college education. Every student is different; however, the needs of the individual must be documented and calculated correctly. Your Expected Family Contribution or EFC is calculated by a standard US Department of Education formula that considers the student’s and parent’s income and assets.
The Federal Supplemental Education Opportunity Grants are awarded only to those students with the greatest need. Factors to be considered are the size of the family, and the number of family members, excluding the parents, attending college or another secondary institution. Other factors and eligibility requirements for a Federal Supplemental Education Opportunity Grant are, being a United States citizen, you must be an undergraduate student, you must have the necessary great point average, and you must not be in default for any previous student loans.
Participating institutions are allotted a certain amount of FSEOG funds each year. The resources come from the Department of Education. You must apply early because once these funds are disbursed each year there are no more resources to be had until the following year. Not all secondary institutions have a Federal Supplemental Educational Opportunity Grants available, so check with your school office
