Yes. The restriction related to online students only applies to Higher Education Emergency Relief Fund (HEERF) grants to students under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), not to Emergency FSEOG.
See also the following AskRegs Knowledgebase Q&As:
AskRegs Q&As represent NASFAA's understanding of regulatory and compliance issues. They are FOR INTERNAL USE ONLY. While NASFAA believes AskRegs Q&As are accurate and factual, they have not been reviewed or approved by the U.S. Department of Education (ED). If you should need written confirmation of AskRegs information for audit or program review purposes, please contact your ED School Participation Division. NASFAA shall not be liable for technical or editorial errors or omissions contained herein; nor for incidental or consequential damages resulting from the furnishing, performance, or use of this material.