NYU launches billion-dollar campaign for financial aid

New York University, which recently launched a D.C. program, launched a massive campaign to fund more scholarships, part of an effort to shed its pricey reputation. Hatchet File Photo.
New York University, which recently launched a D.C. program, launched a massive campaign to fund more scholarships, part of an effort to shed its pricey reputation. Hatchet File Photo.
New York University, which has an even higher sticker price than GW, hopes to raise at least $1 billion for scholarships over the next six years.

NYU is one of GW’s biggest competitors for top students, though GW is historically more generous with financial aid. Last year, GW met an average of 88 percent of students’ demonstrated financial aid, while NYU met 55 percent.

The fundraising drive also puts NYU in direct competition with GW, which will likely announce its largest campaign in history by next summer. The universities would compete for connections with corporations, foundations and large donors.

It also comes at a time when 11 out of the 14 institutions GW considers its peers have recently launched or completed campaigns of $1 billion or more.

NYU completed a massive fundraising campaign that brought in more than $3 billion in 2008 for initiatives such as endowed professorships, new scholarships and new fellowships.

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