Frequently Asked Questions
New Student FAQs
How do I apply for financial aid as a first-year student?
After submitting their admissions application, first-year applicants who want to be considered for need-based financial aid at Washington and Lee must also submit a financial aid application. Detailed instructions for first-year students can be found on the Apply for Aid page of our website.
How do I accept or decline my financial aid offerings?
To accept or decline your financial aid (grants, scholarships, awards or loans) please submit your Award Letter under "Items Requiring Your Attention" on your Financial Aid Portal. You must submit your Award Letter to receive your aid funds.
How can I pay for things before receiving my funds?
Some students with large account credits may receive a portion of those funds before arriving on campus, which can be used to cover certain expenses. If you do not receive an early fund release, you can still purchase books from the University Store and charge them to your student account. Any existing credit on your account will be reduced by the amount of the charge. If you do not have a credit, or if your credit is insufficient to cover the full cost, the charge will either create or increase a balance owed. Other expenses must be paid with your own funds but can later be reimbursed from your account credit balance.
My financial aid has been processed. Is there a way to check my account balance?
Transact Payments - wluPay is where you can see all of your billing information. You can log in to see your outstanding payments or credit balances. Statements are made available on the 15th of every month, and bills are due on the 10th of the following month. Please reach out to the Business Office with any questions regarding your Transact account.
General FAQs
How are my Student Aid Index (Expected Family Contribution) and financial need determined?
W&L is commited to meeting 100% of a student's institutionallu determined need. The University uses its own formula to determine an individual's eligibility for aid using a combination of information we receive from the CSS Profile and your family's federal tax returns. We take into account family size, income (*), taxes, living costs, number of siblings currently enrolled in college, assets, and other personal or financial circumstances that may be pertinent. The evaluation of these factors results in an expectedfamily contribution, and need is determined by subtracting the expected family contribution from the cost of attendance for the specific academic year.
Once institutional need is determined, a combination of grant and Work-Study will be used to meet 100% of your demonstrated need.
* Family income is a combination of all income sources as determined by the financial aid evaluation. Family income may include the adjusted gross income (AGI), untaxed income, income imputed from assets, living allowances and relevant employer benefits, and income from a non-custodial parent, if applicable.
What is the income cutoff for financial aid eligibility?
There is no specific income cutoff for financial aid eligibility. Any student interested in applying for financial aid should do so as we examine all aspects of a family's ability to contribute to the cost of attendance in a given year.
What is included in the total Cost of Attendance and what do I have to pay?
The total Cost of Attendance at W&L includes Direct Costs which are billed to you (Tuition, Fees, Housing and Food), as well as Indirect Costs which are not billed (Books, Personal Expenses and Travel). Indirect Costs are intended to account for the living expenses you will incur that are not billed directly by the university. Please see the Tuition and Fees page for a comprehensive breakdown of the Cost of Attendance budget for the current academic year.
Do I need to reapply for financial aid every year? Is financial aid assured in the future?
Returning students receiving need-based grant assistance must re-apply for financial aid each year. The deadline to re-apply is May 1.
Aid is normally renewable for four years as long as the student maintains satisfactory progress towards a degree and the family's financial circumstances remain the same. The amount of financial aid the University will provide to a need-based grant recipient may vary from year to year depending on a family's financial strength.
How do I re-apply for Financial Aid and submit my tax documents as a returning student?
Detailed instructions for returning students can be found on the How Do I Apply page of our website.
Is there any additional funding available at W&L outside of what is included on my award letter?
Additional funding options are available on a case-by-case basis. These include, but are not limited to:
Additional Assistance Funds: Awarded in the case of financial hardship and/or unforeseen circumstances that arise during the academic year.
Residential Life Staff: Students who become Resident Advisors (RA) or Community Assistants (CA) become eligible for free Room & Board, free parking and professional development workshops.
Emergency Needs Support: The Student Affairs Angel Fund provides discretionary funds for use in the case of extreme emergencies that result in students' needing financial support. Examples of events that may qualify for such emergency fund are the major loss of personal property as the result of a fire or flood, death or severe illness of a member of the immediate family that may result in travel requirements, or sudden loss of parental support as the result of a major natural disaster.
How can I access the credit-balance funds in my student account?
Students can be eligible to receive a credit balance refund when their financial aid funds exceed the direct costs billed by the University. If you have a credit balance in your student account, you can submit a request by email to the Business Office for a refund.
May I study abroad with financial aid?
In general, students who receive financial aid can apply their funding towards a study abroad program during fall term, winter term, or the full academic year. For more details visit Study Abroad. W&L Spring Term Abroad programs have additional costs associated with them and need-based aid is available. For details, visit Spring Term Abroad.
Can my financial aid cover my membership in a Fraternity or Sorority?
Financial aid does not increase to cover any of the additional costs related to Fraternities or Sororities. However, you are provided a budget for room and board and can use those funds to help pay your room and board expenses with the Greek organization.
Types of Aid
What types of Financial Aid does W&L offer?
W&L awards both merit and need-based aid to eligible students. Scholarships are awarded by the University and outside agencies based on a student's merit. Other forms of aid, such as grants, loans, and work-study, are generally awarded to a family based on their demonstrated financial need.
What is the W&L Promise and how do I determine if I am eligible?
The W&L Promise guarantees that any undergraduate student whose total family income is under $150,000 and who meets eligibility requirements will receive a minimum grant covering full tuition. Undergraduate students with a family income under $75,000 will also receive room and board. Additional need-based aid, including grants and Work-Study (no loans), may be offered to meet full demonstrated financial need.
International and transfer students can be eligible for the W&L Promise.
To apply for the W&L Promise, each year students must submit a complete university need-based grant application including the CSS Profile, parent and student federal tax returns, and non-custodial information (if applicable). The evaluation of the application will determine if the student will qualify for the W&L Promise.
Are merit-based scholarships available? How do I apply?
The Johnson Scholarship is a merit-based award that covers tuition and fees, housing and food, and $10,000 in funding for a summer experience - a grand total of more than $89,000 per year - to up to 44 incoming students each year. Applying for a Johnson Scholarship also ensures that you're considered for other merit scholarships at Washington and Lee. For application information, please visit the Apply for the Johnson Scholarship page on our website.
How can I receive Federal and State grants?
Federal Grants: Federal grants are awarded to students who have federal financial need and who meet eligibility requirements such as eligible citizen, enrollment requirements, satisfactory academic progress, etc. To be evaluated for federal grants, a student must submit a FAFSA each academic year.
Virginia Tuition Assistance Grant: The State Council of Higher Education for Virginia awards the VTAG to students who meet the eligibility requirements. Virginia Students can submit their VTAG application on their Financial Aid Portal.
Do I need to take out loans?
W&L meets 100% of financial need with a combination of grants and work-study, and Federal Loans are only offered to meet the Expected Family Contribution (EFC). If a student's family is unable to pay the EFC out of pocket, student and/or parent loans may be used. Families who wish to use loans to help with their payment can borrow Federal Student Loans and/or Private Loans. Students are not required to take any loans that have been offered and loans can be borrowed at an amount less than the amount listed in the financial aid notification.
How are outside scholarships handled?
W&L cannot award you funds beyond the Cost of Attendance. When applying outside scholarships, your aid will be adjusted to accommodate additional funds. Need-based grants are reduced by 50% of any outside award or benefit. Merit awards may be reduced if the total amount of grant award exceeds the cost of attendance. Outside scholarships need to be reported to the Office of Financial Aid. There is a link on the Financial Aid Portal that allows you to enter details for each award you receive.
Work-Study
How does campus employment work at W&L?
Students may be offered Work-Study positions within specific departments at the University. Work-Study placement is based on eligibility and the number of students applying for the positions. Students who were not offered Work-Study, or have not started the application process, may still participate.
Work-Study must be earned and is paid directly to the student. The amount listed is not guaranteed but is the maximum you can earn in the program, and you can earn less. Students are paid bi-weekly for the hours they have worked, and the funds are deposited in the student's bank account, not their W&L student account. The true purpose of Work-Study is to provide students with the personal expense funds needed throughout the year. Students can replace their Work-Study with loan, but not with grant. Please contact Miranda Edwards in the Office of Financial Aid if you wish to participate in the Work-Study program.
How many hours a week are expected for a campus job?
Students are allowed to work up to 20 hours per week. The full amount of work study offered can be earned by a student working six to eight hours a week throughout the academic year.
Can I have a campus job if I'm not receiving financial aid?
Campus jobs not affiliated with the work-study program are available through the University. They are considered separate means of employment and will not contribute to the cost of your attendance.