Going to college can be really expensive. In the 2017-18 academic year, the average undergraduate tuition cost at public universities was just a hair under $10,000. And for private universities, it was closer to $35,000 a year. That’s a lotta dough.
For many would-be scholars, student loans provide the answer to the oh-so-common “How are we going to afford that?” question. But for undergraduate students in seriously dire financial straits, there may be another option, and its name is FSEOG.
Just rolls right off the tongue, doesn’t it? FSEOG.
Anyway, as its really long, non-acronym name implies, a FSEOG is a grant, not a loan. Which means it doesn’t have to be repaid. Woot.
Currently, the FSEOG is capped at $4,000 per year; the student’s college or university gets to determine the exact amount the eager learner receives. (Note to any students out there whose eyes just lit up: not all colleges and universities participate in FSEOG fun. Be sure to check.)
So how does one become eligible to receive this awesome financial gift? Easy: one simply walks into Mordor…er, one simply fills out the FAFSA form (short for Free Application for Financial Student Aid). Those with the greatest financial need get the benjamins.
Hey, worth a shot, right?
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