The George Washington University (GWU) is a private research university located in Washington, D.C., known for its academic excellence and diverse range of programs. However, attending a private university like GWU can be costly, with the total annual cost of attendance exceeding $70,000. Fortunately, GWU offers various financial aid options to help make its programs more affordable for students. In this article, we will delve into the different types of financial aid available to GWU students, including scholarships, grants, loans, and work-study programs.
Key Points
- GWU offers various forms of financial aid, including merit-based and need-based scholarships, grants, loans, and work-study programs.
- The Free Application for Federal Student Aid (FAFSA) is required for most forms of financial aid, with a priority deadline of February 1st for incoming freshmen.
- GWU's net price calculator can help students estimate their total annual cost of attendance and potential financial aid eligibility.
- The university's financial aid office provides personalized counseling and support to help students navigate the financial aid process.
- External scholarships and grants can also be used to supplement GWU's financial aid packages.
Types of Financial Aid
GWU offers a range of financial aid options to help students fund their education. These include:
- Merit-based scholarships: awarded to students based on their academic achievements, such as GPA, test scores, and extracurricular activities.
- Need-based grants: awarded to students who demonstrate financial need, as determined by the FAFSA.
- Loans: low-interest loans that must be repaid, often with favorable repayment terms.
- Work-study programs: part-time jobs on or off campus that help students earn money to fund their education.
Merit-Based Scholarships
GWU offers several merit-based scholarships to incoming freshmen, including the Presidential Scholarship and the Dean’s Scholarship. These scholarships are awarded based on a student’s academic achievements, such as GPA, test scores, and extracurricular activities. The Presidential Scholarship is the most prestigious scholarship offered by GWU, covering full tuition and fees for four years. To be eligible, students must have a minimum GPA of 3.8 and an SAT score of 1450 or higher.
| Scholarship | Award Amount | Eligibility Criteria |
|---|---|---|
| Presidential Scholarship | Full tuition and fees for four years | Minimum GPA of 3.8, SAT score of 1450 or higher |
| Dean's Scholarship | $10,000 per year for four years | Minimum GPA of 3.5, SAT score of 1300 or higher |
Need-Based Grants
GWU also offers need-based grants to students who demonstrate financial need, as determined by the FAFSA. The Federal Pell Grant is a need-based grant awarded to undergraduate students who demonstrate exceptional financial need. The Federal Supplemental Educational Opportunity Grant (FSEOG) is another need-based grant awarded to undergraduate students who demonstrate extreme financial need.
Loans
GWU offers several loan options to help students fund their education, including the Federal Direct Loan and the Federal Perkins Loan. These loans have favorable repayment terms, including low interest rates and flexible repayment plans. The Federal Direct Loan is a low-interest loan that must be repaid, with an interest rate of 4.53% for undergraduate students.
Work-Study Programs
GWU’s work-study program provides part-time jobs on or off campus to help students earn money to fund their education. Students can work up to 20 hours per week, earning a minimum of $10 per hour. The Federal Work-Study (FWS) program is a need-based program that provides part-time jobs to undergraduate and graduate students.
External Scholarships and Grants
In addition to GWU’s financial aid packages, students can also apply for external scholarships and grants to supplement their funding. These can be found through online search engines, such as Fastweb or Scholarships.com. Students should also check with their employers, community organizations, and professional associations for potential scholarship opportunities.
What is the deadline for submitting the FAFSA?
+The priority deadline for submitting the FAFSA is February 1st for incoming freshmen. However, students can still submit the FAFSA after this deadline, and GWU will review their eligibility for financial aid.
How do I apply for GWU's merit-based scholarships?
+GWU's merit-based scholarships are awarded automatically to eligible students. However, students must submit their application for admission and all required supporting documents by the priority deadline to be considered for these scholarships.
Can I use external scholarships and grants to supplement GWU's financial aid packages?
+Yes, students can use external scholarships and grants to supplement GWU's financial aid packages. However, students must report these awards to GWU's financial aid office, as they may affect their eligibility for other forms of financial aid.
In conclusion, GWU offers a range of financial aid options to help students fund their education. From merit-based scholarships to need-based grants, loans, and work-study programs, students can explore various ways to make their education more affordable. By carefully reviewing the terms and conditions of each financial aid option and seeking guidance from GWU’s financial aid office, students can make informed decisions about how to fund their education and achieve their academic goals.
