Economic Crisis Causes Tuition Worries

US Federal Reserve Chief Ben Bernanke said earlier this week that more government spending may be needed to combat economic weakness. Only a few blocks away, the economic crisis is beginning to seriously affect some GW students.

In an email advisory sent to all students and parents, Daniel E. Small, the Executive Director of Student Financial Assistance, provided information about opportunities available to prevent the existing economic conditions from adversely affecting students’ continued enrollment. Students are encouraged to keep the office informed of any significant changes to income, assets, college savings, or changes in employment. The office has waived the previously published deadline for the 2008-09 academic year to accommodate unanticipated changes. Students are also encouraged to look into the GW monthly payment plan, which allows families to make payments over a series of months rather than in one payment. Federal Stafford and Plus loans are still available. In addition, the office has an emergency loan program from which a GW student can borrow up to $600 in an interest- free loan for thirty days. Finally, for those students who are concerned about the 2009-10 academic year, the financial aid materials will be available in march 2009 and are due by April 24, 2009.

In response to the email, freshman Kelsi Browning says “I am glad that the office of financial aid is taking into account the declining economic situation and helping students that may be in need. I have a lot of loans and I want to be able to pay them.”

-Monika Wysocki