Financial aid increases, long-term investments in academic priorities continue.
The George Washington University Board of Trustees on Friday approved the university’s fiscal 2018 operating and capital budgets, which run from July 1 through June 30, 2018.
This budget represents the university’s continued efforts to make strategic long-term investments in academic priorities, enhance the student experience and increase financial aid during the upcoming fiscal year.
The more than $1 billion operating budget includes graduate and undergraduate financial aid totaling more than $297 million in order to meet the anticipated need of students.
The budget also includes increased funding to support online education and maintaining performance-based merit raises. Internal cost cuts, reductions in leased space, utility savings and other efficiencies helped to fund the investments.
The fiscal 2018 capital budget expenditures total approximately $67 million and continue the university’s investment in previously approved major capital projects that will deliver enhanced facilities in support of the university’s academic mission, including upgrades to School of Nursing and School of Medicine and Health Sciences labs, infrastructure and classrooms. Also included are renovations to the Corcoran School of the Arts and Design’s 17th Street building and to Corcoran Hall, and improvements to residence halls, including Fulbright, JBKO and Francis Scott Key. The spending plan also includes ongoing investments in sustainability efforts that reduce GW’s carbon footprint and utility costs and assist in upgrading building infrastructure and equipment.