Washington -- The George Washington University's Board of Trustees has approved the University's operating budget for 1998-99, which includes the lowest increase in tuition and fees in ten years. The budget is highlighted by multi-million dollar increases in University funds for student financial assistance and for an ongoing campus-wide technology upgrade initiative.

The total of tuition/fees for returning students ($22,355) and standard room and board ($7,620) represents an increase of 4.5% from 1997-98. New students will be charged slightly higher tuition and fees ($22,625). Tuition and fees for on-campus graduate students will be $714.50 per credit hour and GW Law School tuition and fees will increase 4% to $23,955.

"This modest tuition increase represents an investment directly related to the educational needs of GW students," said GW President Stephen Joel Trachtenberg. "The high cost of state- of-the-art technology is a major force now driving up the price of education throughout the country. It's expensive, but we are committed to providing our students with the state-of-the-art in preparing them for life and work in the next century. We believe a GW education is a solid investment for the future."

The new budget calls for $2 million to be earmarked for the University's ongoing technology upgrade program, bolstering last year's commitment of $5 million. These expenditures are part of an ambitious plan to upgrade the University's technology infrastructure and provide high-speed campus and international network connectivity using fiber optic cable.

Funding for student financial assistance programs will increase by $2.5 million to $62 million in the new budget. In a further step to assist GW students and their families, the University will implement (beginning Fall 1998) a new, innovative loan program that will provide financial assistance to students at preferred rates.

While the tuition/fee increase will provide the University with about $9 million in additional revenue, expenditures will increase by nearly $15 million. The difference will be made up by improving efficiency in administrative operations, contributions to the University's five- year fundraising drive (Centuries Campaign) and from the University's endowment.