When students rely on financial aid – both University aid and government funding – to help pay for their college educations, even the smallest drop in assistance can have a huge impact. And no matter how much funding students receive from Pell Grants, the potential funding cut to the government program will affect how those students pay their tuition.
About 11 to 12 percent of GW undergraduate students receive Pell Grant funding as part of their financial aid packages, but due to an unexpected budget shortfall in the program, Congress may cut the Pell Grant budget by $5.7 billion. This means that individual students could see as much as a 15 percent decrease in the amount of Pell Grant funding they receive.
As the University makes a point to stress its commitment to keep GW affordable, The Office of Student Financial Assistance should do everything it can to ensure that students who need Pell Grants find alternative ways to make up for lost funding.
The University has demonstrated a deep commitment to helping Colonials pay for their GW tuition, especially during the economic crisis. And while providing more aid to students who lose Pell Grants may be the best option, it is not always possible, so the Office of Student Financial Assistance could help those students find work-study options, private loans or different grants. GW’s assistance in any capacity, not only fiscally, would be valuable.
Simply put, when students who rely on even a small amount of money no longer have that money, it can make juggling the process of paying for an education even more difficult. And while the potential decrease in Pell Grant funding is not GW’s doing, it is extremely important that the Office of Student Financial Assistance does everything it can to help alleviate the financial stress that these students may face.