Mike Phillips

Credit crisis hits student borrowers

The nation’s tightening credit market has forced top private student loan providers to alter their lending practices, prompting concern in GW’s office of financial aid about students’ access to manageable loans. The University’s top financial aid administrator said he was worried last week over new standards at the nation’s largest student loan providers that could […]

Debt nears $1 billion

The University’s total debt grew to just under a billion dollars on Wednesday when the school borrowed $200 million – by issuing and selling bonds – to ensure access to cash in the troubled economy, administrators said. University finance officials said $90 million from the sale will be used to pay off existing debt and […]

University debt reaches new heights

The University secured a three-year, $90 million loan from PNC Bank in September, increasing GW’s overall debt by more than 11 percent, according to a report presented on Friday to the Board of Trustees. The loan, which University officials said was needed to ensure access to cash during turbulent economic times, brings the school’s overall […]

Endowment faces first loss in years

The recent chaos on Wall Street is taking its toll on the University’s endowment, which posted its first annual loss since 2001 this summer with administrators projecting a worse situation for the upcoming year. The $1.1 billion endowment, which has grown sharply in recent years, lost roughly 3 percent over the course of the last […]

University sustainability grade improves

An environmental organization rated the University significantly higher in its College Sustainability Report Card last week, noting that the school’s biggest shortfalls now stem from its endowment. The Sustainable Endowments Institute, which surveys sustainability at 300 universities anually, gave GW a C+ in its third report card – up from last year’s D+. The news […]

GW preps for student loan scare

The subprime mortgage crisis, which tore through the financial markets over the last year, has reached student loans. Officials at GW are wary, but confident that students here will be able to find loans to cover the University’s sky-high tuition. While no schools or students have reported problems accessing aid yet, potential shortfalls have sent […]

University remembers Rwandan genocide

Many of Rwanda’s wounds are still healing, even 14 years after its genocide took place, Rwandan Ambassador James Kimonyo said on Monday, the anniversary of the conflict. Joined by University President Steven Knapp, Provost John Williams Jr. and a number of other speakers – including survivors of the genocide – Kimonyo told audience members at […]

“Gelman guy” returns to dorm room

A week has gone by since Marco Chomut left his temporary home in Gelman Library, but people still know him as the “Gelman guy.” The sophomore, who had lived in the library for about a month, is now a campus celebrity following a report in The Hatchet on his life, he said. “A lot of […]

Home sweet Gelman

Marco Chomut usually wakes up at 9 a.m. to the dull roar of janitors’ vacuums. While some students claim to live at Gelman Library because of an overbearing workload, he is probably the only one who is not exaggerating. In early February, Chomut, a sophomore computer science major who made the dean’s list last spring, […]

Market troubles affect loans

Mounting market woes are squeezing brokers, making it more difficult and more expensive for students to find loans to pay tuition. GW financial aid officials said they are concerned about this growing trend. Most student loans are guaranteed by the federal government through the Stafford and PLUS loan programs, but funding for these programs is […]