GW moves aid costs to donors
George Washington University is trying to counteract increased operational costs by shifting some financial aid costs away from the university budget and passing them on to donors.
Funds raised through GW's advancement office can now be used toward financial aid, relying less on tuition funds.
The effort comes with budget concerns highlighted in a recent GW report. By shifting the financial aid burden away from university budget funds, it will give the school time to fix the growing budget concerns.
"If we could just save 1 percent [of the total 35.6 percent of tuition directed toward financial aid] that 1 percent savings ... would equate to about $900,000 in total savings," said Robert Chernak, GW Senior Vice President of the Student and Academic Support Services, told the Hatchet, GW's newspaper.
Pepco to charge higher rates
Pepco, the main electricity supplier to Prince George's and Montgomery counties in Maryland, agreed last night on a plan to implement new rate increases, The Washington Post reported.
The new plan would provide relief to customers now facing a 38.5 percent rate increase, making them eventually pay the full rate increase but without interest.
The plan must pass the Maryland State Public Service Commission but a decision is expected soon.