The University’s highest governing body voted to increase tuition to $44,148 for incoming students during its quarterly meeting Friday.

The 2.9 percent increase, approved by the Board of Trustees, is slightly lower than GW’s 3 percent tuition increases over the past 3 years, and almost a full percentage point lower than increases passed by other city schools.

“We’re trying to keep tuition growth as low as possible. We want to get off that list of most expensive universities,” University President Steven Knapp said.

GW habitually made the top 10 of Forbes Magazine’s annual list of the most expensive colleges in the country, boasting the No. 1 spot in 2008, before falling to the No. 11 spot in 2010.

The Board, along with other top University officials, pledged to keep tuition increases low during the financial crisis, only boosting tuition to match inflation in recent years.

The average increase in tuition and fees for GW’s 42 market basket schools has been 3.8 percent every year over the past 5 years, according to a University news release.

Last year, New York University saw a 3.4 percent tuition increase and Boston University saw a 3.7 percent increase, according to data from the Chronicle of Higher Education.

The $44,148 amount excludes additional fees for labs and room and board.

Tuition levels remain fixed for continuing students because of the University’s fixed-tuition program.

The Board will approve GW’s financial aid pool at its meeting in May. The University will ask for between $155 and $159 million in aid, Knapp said.