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GWU tuition rises again
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Washington DC (Map, News) - Tuition for incoming George Washington University freshmen will increase by 3 percent in the fall to $40,392, President Steven Knapp said Friday, maintaining the school's position as one of the most expensive in the country to attend.
Between tuition, room and board and fees, the total cost of attending GWU climbed to $50,660 in 2007-2008. The university's board of directors agreed Friday to ramp up financial aid efforts and introduce other price control measures to bring the soaring tab under control.
"The affordability of higher education is a pressing concern for American families," Knapp said in a statement. "We are committed to moderating overall costs and to preserving the benefits and predictability that our fixed-tuition program offers students and their families."
The university said it will provide $118 million in financial assistance for undergraduates next school year, including a $6 million increase in freshmen grants. And it set a goal of quadrupling fundraising for student aid from $10 million to $40 million annually within five years.
All GWU undergraduates enjoy the benefits of a four-year-old tuition freeze program. While incoming freshman will pay more than $40,000 in 2008, the bill for a fifth-year senior will be roughly $34,000, said Traci Schario, university spokeswoman.
Changes in the cost of housing next year will range from a 0.6 percent decrease to a 2.8 percent increase, as GWU cuts the price of roughly 1,000 beds by 19 percent for students demonstrating financial need.
With the room cost reduction, the total bill for a GWU freshman in 2008 could be as low as $50,342, Schario said.
