"The sale agreement gives GW the option to maintain programs at VSTC for up to five years "while we plan thoughtfully and deliberately for the future," Granberg wrote in her message to the community. She described the move as part of a "broader strategy to strengthen GW's long-term financial health and to invest more deeply in our academic mission and community.""
"According to a resolution passed by the GW Board of Trustees, a large share of the sale's proceeds will be used to establish a new endowment, intended to support advances in research and teaching as well as to increase student financial aid. Some funds will also be used to provide a one-time bonus for employees."
"Launched in 1991, VSTC, located about 25 miles northwest of GW's main campus in Washington, D.C., has supported research in engineering, physics and chemistry and housed other academic programs and administrative services."
George Washington University has sold its Virginia Science and Technology Campus, a 25-mile satellite facility northwest of the main D.C. campus established in 1991. The campus supported research in engineering, physics, and chemistry while housing academic programs and administrative services. GW retains the option to maintain programs there for up to five years during transition planning. Proceeds from the sale will establish a new endowment for research, teaching, and student financial aid, with additional funds allocated for employee bonuses. This sale represents part of GW's broader financial strategy, following recent cost-containment measures including pauses on five Ph.D. program admissions.
Read at Inside Higher Ed | Higher Education News, Events and Jobs
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