George Washington University will phase out its fixed tuition program for incoming on-campus undergraduate students starting fall 2020.
The move comes amid a review of long-standing policies on the undergraduate student experience. GW hopes axing its fixed tuition program will make more funds available for campus improvement plans and student life.
“As part of this process, fixed tuition emerged as a program that is not realizing the potential envisioned, and it has an associated cost that can be put to better use,” said GW President Thomas LeBlanc.
“While there will be no immediate impact, phasing out fixed tuition will create discretion in future budgets for the university to continue to improve the student experience.”
Returning undergraduate students, as well as newcomers this fall or next spring, will not be affected, the university said in a news release on Thursday.
Instead, GW will shift to setting its tuition rates on an annual basis, a change it said will bring the school in line with most other universities.
In its announcement, the university touted an additional $10 million in funding for campus improvements made possible through similar efforts to “incorporate more discretion into its budget.”
The university said it will continue to review need-based financial aid packages taking into account any fluctuations in fees, reiterating its “commitment to moderating the overall cost of attendance and limiting tuition increase.”