Largest Financial Aid Increase in Georgetown's History Is Approved
February 15, 2013 – With the cost of providing higher education continuing to rise, Georgetown’s board of directors have approved the university’s largest-ever increase to financial aid – which brings the total to more than $155 million for the 2013-2014 academic year.
More than $107 million of that amount will go toward undergraduate financial aid, an increase of $7.7 million for the next academic year.
It is estimated that nearly 40 percent of the university’s student body – or more than 2,600 undergraduates – received need-based scholarships for 2012-2013.
A Top Priority
Undergraduate tuition at Georgetown will rise to $44,280 for academic year 2013-2014 from its current $42,360.
Georgetown is one of only few dozen colleges and universities (out of more than 4,700 institutions nationwide) that maintain a need-blind, full-need admissions policy.
In place since the late 1970s, the policy meets the full need of eligible students –regardless of their ability to pay – through a combination of loans, grants and work-study.
“Financial aid is one of Georgetown’s greatest priorities,” says President John J. DeGioia, “Our student body is richer and more diverse as the result of our admissions policies, resulting in some of our most deserving students receiving what they need in order to enjoy the benefits of a Georgetown education.”
Significant steps to sustain Georgetown’s commitment to financial aid have occurred over the past few years, including an initiative that aims to support 1,789 scholarships in the amount of $25,000 each year through philanthropy. To date, the effort, part of the university’s $1.5 billion capital campaign is halfway toward its goal of $500 million with more than $230 million raised thus far.
Georgetown is now No. 35 in terms of cost among universities, when only four years ago it was No. 3.
Room (based on double room) charges at Georgetown will be $9,310 and board charges (based on 10 meals per week) will be $3,753.
“Our financial plan strives to keep our total costs as low as possible while remaining competitive and seeking new investments,” DeGioia says.