Undergraduate tuition will rise to $64,700 next academic year, according to a University release Friday.

The $62,110 tuition rate in 2022-23 – the highest tuition in GW’s history – will increase by 4.2 percent and keep GW’s overall cost of attendance over $80,000, according to the release. The release states that officials are working to “contain” the cost of attendance and will provide “additional” need-based financial aid to help students finance their education.

The cost of attendance at GW surpassed $80,000 for the first time this academic year for most undergraduates.

“Affordability is important in determining whether talented students come to and stay at GW,” the release states.

The base cost of housing and dining will increase by $580, rising from $15,720 for the 2022-23 academic year to $16,300 for the 2023-24 academic year.

“The University is also committed to ongoing enhancements to the overall student experience,” the release states. “As part of these ongoing efforts, GW has reimagined its dining program by introducing all-you-care-to-eat on-campus dining in the Thurston, Shenkman and West residence halls to complement other dining spaces in District House and GW Hillel.”

Prior to the pandemic, tuition rates have risen by about three percent each year, increasing by 2.1 percent from $59,780 in the 2020-21 academic year to $62,110 in the 2021-22 academic year.

Starting next academic year, most undergraduate students will not have fixed-tuition rates after the Board of Trustees voted to end the fixed-tuition-rate policy for students entering the University in the fall 2020 semester.

President Biden announced a plan to cancel up to $10,000 of student loan debt for most borrowers in April, but a federal appeals court temporarily blocked the plan after several Republican-led states said it was an overreach of Biden’s powers.

About a third of GW students received federal student loans last year and would be eligible for Biden’s forgiveness plan.