The university has increased financial aid budgeted for undergraduate students this academic year from $148 million to $150 million due to a growth in both aid applications and students qualifying for aid. This is a 22 percent increase from two years ago, when financial aid budgeted totaled $123 million.
“The George Washington University is committed to helping students and their families meet financial needs,” said Senior Vice Provost and Senior Vice President for Student and Academic Support Services Robert Chernak. “We continue to work closely with students and families affected by the downturn in the economy.”
Approximately 6,000 undergraduates have been awarded university-provided financial aid for this academic year, up from 5,600 students last academic year. Of those, 95 percent are receiving the same level or more than they received last year due to increased need. Five percent are receiving less GW grant aid this academic year than last year. These students either were selected by the U.S. Department of Education for verification of eligibility, submitted aid applications late or had a change in status that reduced the level of aid for which they were eligible. The university is continuing to work with students on an individual basis who have unmet financial need to help ensure they can meet college costs.
The average award for undergraduates for the 2010-2011 academic year is $24,836. For the 2008-2009 academic year, the average award was $21,676.