How to Pay for George Washington University

Whether you’re planning for a future degree at George Washington University or are already in the Nation’s capital, you’ll be happier post-degree if you figure out how to pay for your education now. 

With around 11,000 undergraduates and even more graduate students at GWU, you’ll join a tight network of students. After graduating, you’ll become one of hundreds of thousands of GWU alumni across the globe. First, here’s what you need to know about paying for your degree.

How much does it cost to attend George Washington University?

Undergraduate tuition at GW is fixed at the rate you pay the year you enter, for up to five years. For the 2016-2017 academic year, tuition cost $51,875. Total expenses including room and board, books, and transportation to $68,625 for on-campus students, and $61,125 for at-home students.

For 2016-2017, full-time GW Law students are charged $56,244 in tuition, with a total estimated yearly cost of $82,900. Part-time JD students are charged $1,980 per credit hour. Medical student tuition is close to $57,000 per year, but total costs vary by the year in school. First and second-year students are expected to pay closer to $80,000, while third and fourth-year costs creep towards $90,000.

The Global MBA at the GW School of Business costs $97,815 in tuition for the entire 21-month program. In addition to tuition, factor in costs such as enrollment and matriculation fees, books, and health insurance not to mention room and board. Full-time graduate students have the option to live on-campus, if they choose, which may help keep housing expenses down. Students in the Professional MBA program pay $93,795 in tuition, billed at $1,690 per credit hour.

What kind of financial aid does GW offer?

Freshman at GW will be automatically considered for four different merit-based scholarships, as long as they satisfy certain eligibility requirements. There are a number of scholarships available to transfer students, and international applicants have a separate set of merit-based scholarships. 

As for need-based undergraduate aid, federal, state, and school grants ensure that students with financial need can pay for their education. Students from the District of Columbia whose family income is less than $75,000 will also be considered for the District Scholars Program.

GW Law students have both need and merit-based grants available, but with limitations. If students receive more than $16,000 annually in merit-based scholarships, they are ineligible for need-based aid. Merit grants are funded partially through alumni donations, whereas need-based grants are supported by law school revenue.

GW School of Medicine and Health Sciences MD candidates will be considered for dozens of need-based scholarships. For costs exceeding what is awarded in scholarships, GW offers a number of its own loan programs, including the Primary Care Loan, loans for disadvantaged students, and medical school consolidation loans for needy students.

All enrolled business students will be considered for merit-based scholarships, and 70% of Global MBA students receive some a scholarship. The average merit scholarship for Global MBAs covers more than half of the program cost. Professional MBA students are also considered for merit-based scholarships; one-third of enrolled students this past year received a scholarship for an average amount of $20,000. The GW School of Business does not offer need-based scholarships, but rather instructs students to apply for the FAFSA in order to take out federal student loans. Students wishing to secure more funding can do so through private student loans.

What kinds of extras should I expect to pay for at GW?

Given limited space on GW’s main Foggy Bottom campus, freshman and sophomores are not offered parking spaces on campus. The campus is in the middle of downtown DC, so you shouldn’t have a problem getting around by public transportation and walking. Third and fourth-year undergraduates, as well as graduate students, are able to apply for parking permits, but keep in mind it’ll cost you thousands in parking fees alone to have a car, not to mention car payments and insurance.

Heralded as a great college town, DC has plenty of activities when you’re looking to escape your studies. From museums to nightlife, you’ll be smart to budget in some wiggle room for extracurriculars so that you can enjoy the city while completing your degree.

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