Students of Georgetown, Inc., commonly known as The Corp, officially became Georgetown’s newest federal work-study employer this summer, following a vote by the company’s upper management and board of directors.

The recent decision to grant federal work-study (FWS) funds to the Corp means qualified students are now eligible to receive financial aid through employment with the organization.

The Corp expects to expand its employee pool, attract a diverse workforce and save $45,000 per year through federal funding for becoming a FWS employer, according to Corp President and CEO Jon Carpenter (MSB ’06).

“Receiving the university’s nod to become a FWS employer is indicative of the great strides in professionalism the Corp has made in recent years,” Carpenter said in a press release. “Through the resources this program lends, the company will become a more diverse and financially secure organization.”

The federal government reimburses eligible organizations for up to 100 percent of their costs of employing FWS students, depending on the type of organization.

The Corp is an off-campus public FWS employer, and the government will reimburse 60 percent of its FWS workers’ wages, according to Chief Financial Officer Chirag Dedania (SFS ’06).

“We pay 40 percent of work-study [wages]. … The idea is we hope to raise wages to match university levels and maybe even exceed them,” Dedania said.

Changes in District law affecting minimum wage means the Corp will be forced to raise its wages over the next year.

“The idea is to take it one step at a time,” Dedania said. “We don’t know how many [work-study employees] we’ll hire, so we’re going to have to go slowly with it and see how much money it will cost us. A dollar increase in wages is an extra $30,000 that we’re losing in funds.”

Having personally sought the Corp’s new FWS status, Carpenter said he is optimistic that the change will encourage students who would traditionally seek employment elsewhere to apply to the Corp.

“The hope is that wages will be evaluated continually by the board and we can eventually increase them should the FWS program offset our wage costs significantly,” Carpenter said. “Now, I really hope all Georgetown students can apply to the Corp with a decent wage rate offered and be able to be a part of an amazing organization and do a lot more fun work at their job.”

The Corp recently established a philanthropic committee to donate $5,000 to campus groups that request funding. This year, the organization donated over $35,000 to campus organizations, according to Carpenter.

The Corp is undergoing physical changes to its operations as well.

Students will find a new Vital Vittles store in Leavey Center with refurbished floors, shelves and aisle signs. Customers can freely use their GoCard without a minimum purchase price.

Uncommon Grounds is also installing new furniture, counters and couches in addition to re-painting the interior. The Corp’s ovie Mayhem is now an online vendor, attempting to compete with Blockbuster and Netflix by offering same-day DVD delivery service. In addition, Hoya Snaxa has a new slushy machine.

The Corp is the largest student-run business in the nation and is staffed by over 200 Georgetown undergraduates.