A facilitated study group (FSG) is a time and place for you to get together with other people from your classes and an FSG leader (someone who has previously taken the course) to discuss the course content and gain a deeper understanding of what is being covered in the class lectures and readings.
This does not mean that the FSG leaders will teach you the content, but they will help you enhance your understanding of course material, and they can also help students with understanding assignment requirements.