ODP Employees: Unlock the Benefits of the Federal Student Grant Program for Your Family's Education

Healthcare Provider Update: Healthcare Provider for ODP: ODP, also known as Office Depot, typically provides healthcare benefits through various national insurers. For 2026, major players like UnitedHealthcare, Anthem, and Cigna are critical as potential providers, particularly in light of the anticipated increases in healthcare costs affecting employees. Brief Overview of Potential Healthcare Cost Increases in 2026: In 2026, ODP employees may face significant healthcare cost increases as a result of soaring insurance premiums within the ACA marketplace and an overall rise in medical expenses. Reports indicate that some states could see premium hikes of over 60%, substantially affecting out-of-pocket costs for many individuals. Furthermore, the expiration of enhanced federal subsidies could lead to a staggering 75% increase in net premiums for the majority of ACA enrollees, emphasizing the need for employees to proactively evaluate their benefit options and financial strategies to manage these rising costs effectively. Click here to learn more

Most ODP employees have already heard of the Free Application for Federal Student Aid, or FAFSA, if they or someone they know has plans to attend a college, career school, or university. Last year, around 70% of families submitted a FAFSA to the Department of Education to secure financial assistance. But what many prospective and current students may overlook are the various federal grants awarded to students in need each year. 

Granted value

Most federal grants, unlike loans, function as sources of funding. There are some exceptions, though. For example, if a student is awarded a grant, but withdraws from the program in which they’re enrolled, they may be required to pay back all or a portion of that grant.

Know your grants

The Department of Education offers multiple aid packages as part of the Federal Student Grant Program and all ODP employees should be aware of them. The following four are granted most often, and each has different requirements for eligibility. The information below applies to the 2023-2024 academic year:

• Federal Pell Grants  - With a maximum award of $6,895, Pell Grants are reserved for undergraduate students who have exceptional financial need and have not earned a bachelor’s, graduate, or professional degree yet.
• Federal Supplemental Educational Opportunity Grants (FSEO)  - FSEO Grants award a maximum of $4,000 to those who demonstrate exceptional need and have not yet earned a bachelor’s or graduate degree. FSEO Grants also give priority to Pell Grant recipients over other applicants.
• Iraq and Afghanistan Service Grants  - These grants award a maximum of $6,895, and they’re only for students whose parent or guardian served in a branch of the U.S. Armed Forces and died while serving in Iraq or Afghanistan after the events of 9/11.
• Teacher Education Assistance for College and Higher Education (TEACH) Grants  - TEACH Grants award a maximum of $4,000, and they’re reserved for students who are enrolled in teaching preparation programs and agree to teach for a minimum of 4 years at the elementary or secondary school level in a high-need field.

FAFSA Required

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No matter who you are or your financial situation, you may want to consider submitting a FAFSA. After all, the grants listed above do require recipients to have an application on file with the Department of Education. And who knows? The potential financial benefit that you as a ODP employee could secure may surprise you.

•  Finder.com, 2019

•  StudentAid.gov, 2020