The Federal Supplemental Educational Opportunity Grant (FSEOG), Federal Work-Study (FWS), and Federal Perkins Loan programs are called campus-based programs because they’re administered directly by the financial aid office at each participating school. Not all schools participate in all three programs.

How much aid you receive from each program depends on your financial need, on the amount of other aid you receive, and on the availability of funds at your college or career school. Unlike the Federal Pell Grant Program, which provides funds to every eligible student, the campus-based programs provide a certain amount of funds for each participating school to administer each year. When those funds have been awarded, no more awards can be made from that program for that year.

What are Federal Supplemental Educational Opportunity Grants (FSEOGs)?
These grants are for undergraduates with exceptional financial need. Pell Grant recipients with the lowest EFCs will be the first to get FSEOGs, which don’t have to be paid back. You can get between $100 and $4,000 a year, depending on when you apply, your financial need, and the funding at the school you’re attending. FSEOGs are awarded only to undergraduate students who have not earned a bachelor’s or professional degree.

If you’re eligible, your school will credit your account, pay you directly (usually by check), or combine these methods. Your school must pay you at least once per term (semester, trimester, or quarter) or at least twice per academic year if the school doesn’t use traditional terms.

What is Federal Work-Study?
Federal Work-Study (FWS) provides part-time jobs for undergraduate and graduate students with financial need, allowing them to earn money to help pay education expenses. The program encourages community service work and work related to the recipient’s course of study.

How will I be paid?
You’ll be paid by the hour. Your school must pay you directly at least once a month. You’ll be paid at least the current federal minimum wage, but you might earn more, depending on the type of work you do and the skills required. The amount you earn can’t exceed your total FWS award. When assigning work hours, your employer or financial aid administrator will consider your award amount, your class schedule, and your academic progress.

What kinds of jobs are there in Federal Work-Study?
If you work on campus, you’ll usually work for your school. If you work off campus, your employer will usually be a private nonprofit organization or a public agency, and the work performed must be in the public interest. Your school might have agreements with private for-profit employers for Federal Work-Study jobs. If so, your job must be relevant to your course of study (to the maximum extent possible). If you attend a career school, there might be further restrictions on the jobs you can be assigned.

What About Federal Perkins Loans?
A Federal Perkins Loan is a low-interest (5 percent) loan for both undergraduate and graduate students with financial need. Your school is your lender, and the loan is made with government funds. You must repay this loan to your school.

Your school will either pay you directly (usually by check) or apply your loan to your school charges. You’ll receive the loan in at least two payments during the academic year.

How much can I borrow?
You can borrow up to $4,000 for each year of undergraduate study, depending on when you apply, your financial need, and the funding level at the school.

Other than interest, is there a charge for this loan?
No, there are no other charges. However, if you don’t repay your loan as scheduled, you might have to pay a late charge plus any collection costs.

So, when do I pay it back?
If you’re attending school at least half time, you have nine months after you graduate, leave school, or drop below half-time status before you must begin repayment. This is called a grace period. If you’re attending less than half time, check with your college or career school to find out how long your grace period will be. At the end of your grace period, you must begin repaying your loan. You may be allowed as many as 10 years to repay the loan in full. Periods of deferment and forbearance (see the next paragraph) do not count as part of this 10-year period. Your monthly payment amount will depend on the size of your debt and the length of your repayment period.

What if I have trouble repaying the loan?
Under certain circumstances, you can receive a deferment or forbearance on your loan. During a deferment, no payments are required and interest does not accumulate. During forbearance, your payments are postponed or reduced. Interest continues to accumulate, however, and you are responsible for paying it.

Can it ever be canceled?
A Federal Perkins Loan can be canceled under certain specific circumstances, such as your death or a total and permanent disability. You also might qualify to have your loan canceled because of the work you do once you leave school (teaching in a low-income school, for example).

For more information on deferment, forbearance, or cancellation, read our publication, The Student Guide.