Charles Basden and Matthew Cohen explain why student financial literacy is more important now than ever before.

In our time here at GW, we have seen the University’s administration usher in a series of bold initiatives to address the issue of affordability. Initiatives such as fixed tuition for freshmen and additional offerings of need-based aid for all students exist because of key departments such as the Office of Student Financial Assistance and the Office of Development and Alumni Programs. Their diligent efforts seek to combat the everyday reality of students and their families struggling to pay for a private university education as well as the fundamental cost-drivers behind the ever-rising “price tag” of a college degree.