Affordability Overview
From W&L
We believe a W&L education should be affordable for all admitted students. Our financial aid evaluation is not just a set of numbers plugged into a formula. We review each application and treat each family according to its circumstances. All First-Year applicants, including domestic, international and undocumented students, are eligible and encouraged to apply for need-based financial aid.
W&L also offers competitive merit-based full-ride scholarships through the Johnson Scholarship Program and additional full-tuition scholarships on the basis of geography or special interest.
- 100% — W&L meets the full demonstrated financial need of every admitted applicant entirely through grants and student employment, without loans.
- $0 in tuition — Undergraduate students with a total family income below $125,000 and assets typical for their income will receive a minimum grant equal to full tuition.
- $60 million in aid awarded annually. Our top-25 endowment among all U.S. colleges and universities allows us to provide need-based financial aid to the greatest number of students across the broadest range of incomes.
- 57% of the entering first-year class received some form of financial aid, with an average aid award of $64,265.
- ~44 members of the first-year class will win a prestigious Johnson Scholarship — an $83,000 per year value.
Scholarships Overview
From W&L
All merit scholarships at Washington and Lee are part of the Johnson Scholarship Program. To be considered for a merit-based award, you must submit a Johnson Scholarship application by Dec. 1. Scholarships recognize and reward students on the basis of academic achievement, demonstrated leadership and integrity, and their potential to contribute to the intellectual and civic life of the W&L campus and the world at large in years to come.
Costs
The sticker price at Washington and Lee is $91,700. This sticker price includes costs for tuition, books and supplies, room and board, and other miscellaneous expenses.
It’s also important to note that the cost of attendance can vary from year to year and typically it will rise over your four years in college. With that said, your financial aid will also be recalculated every year to take any price increases, as well as any changes in your financial situation, into account.
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Washington and Lee University Financial Aid
Students who are applying for financial aid at Washington and Lee need to submit both the Free Application for Federal Student Aid (or FAFSA), as well as the CSS Profile.
The FAFSA opens up on October 1st, and students should apply as soon as they can! The FAFSA uses financial information from the prior, prior year which means that you don’t need to wait for the year to end and can use last year’s financial information.
The FAFSA code for Washington and Lee is 003768 and the CSS Profile Code is 5887.
It should be noted that while the FAFSA is free, the CSS Profile does require an application fee. However, students can qualify for a CSS Profile application fee waiver if the cost will present a financial hardship for the students’ family.
If you are looking for more information on how to complete the FAFSA or the CSS Profile, check out these resources:
Washington and Lee University Questbridge Scholarships
Washington and Lee is a member of Questbridge, which is a prestigious scholarship program that supports high-achieving students from low-income backgrounds. Students who are “matched” to Washington and Lee University through Questbridge receive a four year, full ride scholarship to the school. If you are interested in learning more about Questbridge, you can check out our Questbridge Scholarship guide.
No Loan Policy at Washington and Lee
Washington and Lee is a no-loan school, which means that their financial aid packages offer students grants and scholarships in place of the federal loans that are typically part of a package. This means that their financial aid is more generous than most, and they help bridge the gap between cost and student need. Some no-loan schools offer this policy for all accepted students while others only extend it to students below a specific income level, or to in-state students. Be sure to check Washington and Lee's website for details on their No-Loan policy.
National Merit Scholarships
If you scored exceptionally high on the PSAT/NMSQT, you may have been named a National Merit Scholarship Finalist. Did you know that this distinction could earn you a scholarship at Washington and Lee University? Washington and Lee offers scholarship money to National Merit Scholarship Finalists, although terms may vary. Some schools require you to list them as your first choice in order to receive the benefit, and others may impose additional need-based or academic requirements. Be sure to check Washington and Lee's website for more information!
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Pell Grants at Washington and Lee University
11% of students at Washington and Lee University receive Pell Grants, which are awarded to undergraduate students with demonstrated financial need (students who have a bachelor’s or professional degree are not eligible). Pell Grants are awarded by the federal government and do not need to be repaid. To apply for a Pell Grant, students will need to submit their FAFSA. If you are awarded a Pell Grant, you’ll see it listed in your financial aid award letter if you are accepted to Washington and Lee University.
You can learn more about Pell Grant eligibility here.
Outside Scholarships
Washington and Lee students can also apply for outside scholarships to fund their education. Outside scholarships are awards that are offered by private and non-profit organizations. If you want to see what outside scholarships you are eligible for, check out these resources: