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Washington and Lee University

Lexington, VA 24450-2116 — Private Nonprofit

Value Score: 85/100 | ROI Score: -65 | Affordability Score: 55/100

Tuition (In-State): $68,045 | Out-of-State: $68,045

Acceptance Rate: 14.0% | Graduation Rate: 94.4% | Retention Rate: 96.6%

Median Earnings (10yr): $94,810 | Median Debt: $19,500

SAT Average: 1498 | ACT Midpoint: 34

Student Body Size: 1,881 (small)

Pell Grant Recipients: 11.3% | Federal Loan Rate: 14.5%

Average Faculty Salary: $14,155/month

Tuition & Affordability Analysis

In-state tuition at Washington and Lee University is $68,045 per year, which is 73% above the national average for private institutions.

Out-of-state students pay $68,045/year — a premium of $0 over in-state rates. Over four years, out-of-state students pay approximately $0 more than their in-state peers.

Estimated four-year tuition cost: $272,180 (tuition only, not including room, board, and fees).

What You Actually Pay: Net Price by Family Income

The sticker price rarely reflects what families actually pay. After grants and scholarships, here is the average net price by family income bracket at Washington and Lee University:

  • Families earning $0–$30,000: $-1,777/year
  • Families earning $30,001–$48,000: $75/year
  • Families earning $48,001–$75,000: $4,497/year
  • Families earning $75,001–$110,000: $8,162/year
  • Families earning $110,000+: $40,646/year

Low-income families receive an average discount of $69,822/year, paying just -3% of the sticker price.

Admissions Snapshot

Washington and Lee University has an acceptance rate of 14.0%, placing it in the Highly Selective (10–20%) category. This means roughly 3,366 students apply each year.

With an acceptance rate under 20%, Washington and Lee University is among the most competitive institutions in the country. Strong academics, extracurriculars, and compelling essays are essential.

The average SAT score of admitted students is 1498, 41% above the national average. This places Washington and Lee University among the top-tier institutions for academic preparedness.

The ACT midpoint is 34, 62% above the national average.

Graduate Outcomes & Return on Investment

94.4% of students at Washington and Lee University complete their degree, 52% above the national average. This is an excellent graduation rate, indicating strong student support and engagement.

First-year retention rate: 96.6% (19% above the national average). A retention rate above 90% signals high student satisfaction and strong first-year experience programs.

Graduates of Washington and Lee University earn a median salary of $94,810 ten years after enrollment, 132% above the national average. This represents a $59,810/year earnings premium over the average high school diploma holder, or $1,794,300 in additional lifetime earnings over a 30-year career.

The median student debt at graduation is $19,500, 9% below the national average. On a standard 10-year repayment plan at 5.5% interest, this translates to approximately $212/month, with a total repayment of $25,440 (including $5,940 in interest).

Debt-to-Earnings Ratio: 0.21x. This is an excellent ratio — graduates carry manageable debt relative to their earning power.

Breakeven Point: Based on the earnings premium over high school graduates, a degree from Washington and Lee University pays for itself in approximately 5 years. This is an excellent return on investment.

Financial Aid Profile

11.3% of students at Washington and Lee University receive Pell Grants (federal need-based aid for families earning under ~$60,000), 66% below the national average. A lower Pell rate suggests the student body skews toward higher-income families. Merit aid may be more prevalent than need-based aid.

14.5% of students take federal loans, 69% below the national average. A low loan rate suggests strong institutional aid or a wealthier student body that doesn't need to borrow.

Average faculty salary: $14,155/month, 62% above the national average. Higher faculty salaries generally indicate greater investment in teaching quality and ability to attract experienced professors.

Student Body & Campus Diversity

Washington and Lee University enrolls 1,881 undergraduate students. This mid-sized institution offers a balance between personalized attention and diverse academic offerings.

Diversity Index: 53/100 (higher = more diverse). The campus has moderate diversity.

Student body composition: White 68%, Hispanic 9%, Black 5%, Asian 5%.

Washington and Lee University: High Graduation Rates and Strong Earnings Potential

Report Card: Overall Grade C

Washington and Lee University receives an overall grade of C based on six dimensions:

  • Academics: A+
  • Value: F
  • Outcomes: A
  • Affordability: D

College Analysis

Washington and Lee University is a Private Nonprofit institution in Lexington, VA with approximately 1,881 students. Washington and Lee University has a high graduation rate and strong earnings potential for graduates. The university offers a small, close-knit academic environment with a high admission rate. Students at W&L have a relatively low median debt compared to their peers.

The Verdict: Is Washington and Lee University Worth It?

Washington and Lee University presents a complex value proposition. With a median 10-year earnings of $94,810 against a high sticker price of $68,045 and a median debt of $19,500, the return on investment (ROI) score of -65 suggests a longer payback period than many institutions. The cost of attendance for four years, without aid, could easily exceed $270,000. While the median earnings are respectable, they don't immediately offset the initial investment. However, W&L's strength lies in its elite network, rigorous academics, and the high earning potential of its graduates in lucrative fields like investment banking and consulting, where starting salaries can significantly exceed the median. Graduates often land in high-paying roles that can accelerate debt repayment and long-term wealth accumulation. If a student leverages the W&L network effectively, secures internships at top firms, and pursues high-earning career paths, the investment can become worthwhile over time. For students seeking immediate financial returns, it might appear overpriced. For those aiming for elite careers and valuing the prestige and network, it could be a strategic, albeit expensive, investment. Recommendation: A potentially good deal for students targeting high-paying careers and willing to actively utilize the alumni network and career services.

Return on Investment

While the degree is valuable, the high tuition cost may not be worth it for all students.

Debt Reality Check

Median student debt at Washington and Lee University: $19,500. Monthly payment on a standard 10-year plan: $221/month. Total repaid: $26,520 ($7,020 in interest).

Breakeven vs high school diploma: 0.3 years. Debt burden: Low. Salary needed for comfortable repayment: $26,520.

Strengths

  • Strong academic performance and high graduation rates.
  • Highly selective admission process.
  • Good earnings potential for graduates.

Weaknesses

  • High tuition cost.
  • Limited diversity in the student body.
  • Small class sizes and campus.

Academic Profile

SAT Average: 1498. ACT Midpoint: 34. Retention Rate: 96.6%.

Washington and Lee University's academic program is characterized by its liberal arts foundation, emphasizing critical thinking, strong writing skills, and interdisciplinary approaches. The university is particularly renowned for its undergraduate programs in Economics, Journalism and Public Communication, and Politics. The Williams School of Commerce, Economics, and Politics is a standout, offering rigorous training that prepares students for careers in business, finance, and public service. The Department of Journalism is also highly respected, providing hands-on experience through its student-run publications and media outlets. With a student-faculty ratio that is typically very low (though specific data isn't provided, it's a hallmark of W&L's intimate learning environment), students benefit from close mentorship and personalized attention from faculty. Faculty quality is exceptionally high, with many holding advanced degrees from top institutions and actively engaging in research. W&L offers robust research opportunities for undergraduates, allowing them to collaborate with professors on significant projects. The University also boasts a strong Honors Program, providing advanced students with an enriched academic experience and opportunities for independent study and thesis work. Study abroad is strongly encouraged, with numerous programs available worldwide, often integrated into students' major coursework. Academic support is readily available through the Center for Academic and Professional Skills, offering tutoring, writing assistance, and career counseling.

Financial Aid Guide for Washington and Lee University

Pell Grant recipients: 11.3%. Students taking federal loans: 14.5%.

Washington and Lee University is committed to making its education accessible through a combination of need-based financial aid and merit scholarships. As a private institution with a high sticker price (currently $68,045 for tuition, room, and board), understanding the financial aid landscape is crucial. W&L employs a need-blind admission policy, meaning your ability to pay does not factor into the admissions decision. They are also committed to meeting 100% of demonstrated financial need for all admitted students. This aid typically comes in the form of grants and scholarships, with a smaller portion often being work-study opportunities. For families with an annual income below $75,000, W&L has historically offered aid packages that cover full tuition, room, and board, meaning no loans are required. For families with higher incomes, the amount of need-based aid will vary based on individual circumstances, including assets and other factors. Merit scholarships are also available, though they are often highly competitive and may not cover the full cost of attendance. It's important to research specific scholarship opportunities and their application requirements well in advance. Typical aid packages can range significantly, but for students with substantial demonstrated need, grants can cover upwards of $60,000-$70,000 annually. Negotiating financial aid at W&L is generally not a primary strategy, as the university is committed to its own robust need-analysis process. However, if there are significant changes in a family's financial circumstances after the initial application, it is always advisable to contact the financial aid office to discuss potential adjustments.

Hidden Costs at Washington and Lee University

  • Textbooks and course materials can range from $1,000 to $1,500 per academic year.
  • Personal expenses, including toiletries, laundry, and entertainment, can add $1,500 to $2,500 annually.
  • Transportation costs for travel home during breaks or for weekend trips can vary widely but budget at least $500-$1,000 per year.
  • Optional meal plan additions or snacks outside the main dining hall could cost an additional $500-$1,000 per year.
  • Technology fees or the cost of a personal laptop and accessories might be around $1,000-$2,000 upfront.
  • Participation in certain clubs or extracurricular activities may involve fees or fundraising expectations, potentially $200-$500 annually.
  • Health insurance, if not covered by a parent's plan, can add over $3,000 per year.

Alumni Outcomes & Career Paths

Washington and Lee University (W&L) graduates are highly sought after, demonstrating strong performance in both traditional and emerging career fields. The university's robust career and professional development services, coupled with a rigorous liberal arts education, equip students for success. Major employers that actively recruit from W&L include prominent financial institutions like Goldman Sachs, J.P. Morgan, and Morgan Stanley, as well as consulting firms such as McKinsey & Company, Bain & Company, and Deloitte. Tech giants like Google and Amazon also recruit W&L talent, particularly for roles in business, analytics, and product management. Alumni tend to cluster in finance (investment banking, asset management), consulting, law, and technology. Graduate school placement is also a significant outcome, with many graduates pursuing advanced degrees at top-tier law schools (e.g., Harvard Law, Yale Law) and business schools (e.g., Wharton, Stanford GSB). Notable alumni span various fields, including former U.S. Senators, CEOs of major corporations, and acclaimed journalists. W&L's strong alumni network acts as a powerful internship pipeline, with students securing valuable experiences at firms like Capital One, Bloomberg, and various non-profits. Geographic hiring patterns show a strong presence in major East Coast financial centers like New York City and Washington D.C., as well as growing numbers in tech hubs like San Francisco and Boston. There's also a notable contingent in the legal profession across the country.

Campus Life & Culture at Washington and Lee University

The student body at Washington and Lee is intellectually driven and community-minded, with a significant portion hailing from the Mid-Atlantic and Southern states, though a growing number of students come from across the U.S. and internationally. Students who thrive here are typically independent thinkers, possess strong communication skills, and are eager to engage in campus life and contribute to a close-knit community.

Washington and Lee University, often affectionately called 'W&L,' cultivates a unique campus culture that blends rigorous academics with a vibrant, albeit traditional, social scene. Nestled in Lexington, Virginia, the campus itself is a picturesque blend of historic architecture and modern facilities, with the iconic Colonnade serving as its heart. The student body, though small, is highly engaged. Social life often revolves around Greek life, which plays a significant role, with a majority of students participating in fraternities and sororities. These organizations host numerous parties and events throughout the year, forming a central pillar of the social calendar. Beyond Greek life, students find community in a wide array of clubs and organizations, from the debate society and student government to outdoor adventure clubs that take advantage of the stunning natural surroundings of the Shenandoah Valley. Athletics are also a point of pride, with strong NCAA Division III programs in various sports, fostering a sense of school spirit, particularly during home games. The 'vibe' at W&L is often described as intellectually curious, community-oriented, and possessing a certain Southern charm. Students are expected to be engaged both inside and outside the classroom. Housing is guaranteed for all four years, with a mix of traditional dorms, suites, and apartment-style living, many of which are located within or adjacent to the historic residential quadrangles. Dining options are centered around the main dining hall, The Marketplace, and several smaller cafes, offering a variety of choices to fuel busy student lives. The university places a strong emphasis on its honor system, which permeates daily life and fosters a high level of trust and responsibility among students.

Campus Highlights

  • The Colonnade: A stunning, iconic architectural centerpiece housing classrooms, faculty offices, and student spaces.
  • The Honor System: A deeply ingrained student-led system of trust and integrity that governs academic and social life.
  • The General Education Curriculum: A liberal arts core that ensures a broad intellectual foundation for all students.
  • The Outing Club: One of the oldest and most active outing clubs in the nation, leveraging the beautiful surrounding Appalachian landscape.
  • The Johnson Program in Leadership and Service: Fosters student development in leadership and community engagement.
  • The University's commitment to meeting 100% of demonstrated financial need.
  • The picturesque and historic town of Lexington, offering a charming college town atmosphere.

Location & Regional Advantages

Washington and Lee University's location in Lexington, Virginia, offers a unique blend of a serene, historic setting with strategic proximity to key economic centers. While Lexington itself is a small, charming town with a low cost of living and high safety ratings, its primary advantage lies in its accessibility to larger markets. The university is situated within a few hours' drive of major metropolitan areas such as Washington D.C., Richmond, and Charlotte, North Carolina. This proximity facilitates access to internships, networking events, and job opportunities in diverse industries, including government, finance, law, and technology. The Shenandoah Valley region provides a high quality of life with abundant outdoor recreational activities, contributing to a balanced student experience. While the immediate local job market is limited, W&L's strong reputation and the accessibility of larger hubs mean that location is less of a constraint and more of a launchpad for national and international career pursuits. The weather is temperate, with four distinct seasons, and the overall safety of the campus and surrounding community is excellent, fostering a secure environment for academic and personal growth.

How to Get Into Washington and Lee University

Gaining admission to Washington and Lee University is highly competitive, given its 14.0% acceptance rate. The university values a well-rounded applicant who demonstrates intellectual curiosity, leadership potential, and a strong commitment to community. While W&L does not offer Early Decision or Early Action, they do have a Restrictive Early Action (REA) option, which can be advantageous for students who are certain W&L is their top choice. Applying REA signals strong interest and allows applicants to receive an early decision. Academic rigor is paramount; successful applicants typically have a strong GPA, often in the top 10% of their high school class, and have challenged themselves with AP or IB courses. While SAT/ACT scores are not currently a factor (as indicated by N/A data), when they were considered, successful applicants were in the top percentiles. Essays are a critical component. Focus on essays that showcase your personality, your intellectual passions, and how you would contribute to the W&L community. Demonstrated interest is important; engage with the university through virtual or in-person information sessions, campus tours, and by connecting with admissions counselors. The application timeline should be carefully managed: begin researching W&L thoroughly in your junior year, prepare for standardized tests (if applicable in future cycles), and start drafting your essays early in your senior year. Submitting your application well before the deadlines (typically November 1 for REA and January 1 for Regular Decision) is recommended.

How Washington and Lee University Compares to Similar Schools

Similar schools: Amherst College, Williams College, Middlebury College, Colby College

Advantages

  • Stronger emphasis on pre-professional programs (especially finance and law) compared to some liberal arts peers.
  • Exceptional alumni network with deep penetration in finance and consulting sectors.
  • Unique honor system fosters a high degree of student autonomy and trust.

Disadvantages

  • Higher sticker price compared to some peer institutions.
  • Smaller overall alumni base compared to larger universities, potentially limiting breadth of connections in niche fields.

Best For

  • Prospective students should consider the high tuition cost.
  • Students looking for a larger campus experience may find W&L too small.

Avoid If

  • Students seeking a more diverse student body should consider other options.
  • Those with a preference for larger class sizes might find W&L's small class sizes challenging.

Frequently Asked Questions about Washington and Lee University

How much does it cost to attend Washington and Lee University?

In-state tuition at Washington and Lee University is $68,045 per year, and out-of-state tuition is $68,045 per year. The median student debt at graduation is $19,500.

What is the acceptance rate at Washington and Lee University?

Washington and Lee University has an acceptance rate of 14.0%.

What is the graduation rate at Washington and Lee University?

Washington and Lee University has a graduation rate of 94.4%.

How much do Washington and Lee University graduates earn?

The median earnings for Washington and Lee University graduates 10 years after enrollment is $94,810. With median debt of $19,500, graduates earn roughly 4.9x their debt level annually.

How big is Washington and Lee University?

Washington and Lee University has approximately 1,881 students and is classified as a small institution. It is located in Lexington, VA and is a Private Nonprofit institution.

Is Washington and Lee University worth the cost?

Washington and Lee University has an ROI score of -65 out of 100. With in-state tuition of $68,045 per year and median post-graduation earnings of $94,810, the data suggests the return on investment may be below average.

Where is Washington and Lee University located?

Washington and Lee University is located in Lexington, VA. It is a Private Nonprofit institution with approximately 1,881 students.

How much student debt do Washington and Lee University graduates have?

The median student debt for Washington and Lee University graduates is $19,500. With median earnings of $94,810 ten years after enrollment, graduates can expect a debt-to-income ratio of 21%.

Is Washington and Lee University a good college?

Washington and Lee University has a graduation rate of 94.4% and median post-graduation earnings of $94,810. Highly selective with a 14% admission rate.

How does Washington and Lee University compare to similar colleges?

Graduation rate of 94.39%. Compared to peer institutions, Washington and Lee University offers a strong academic and career outcome profile, despite its high tuition.

What career prospects do Washington and Lee University graduates have?

Graduates of Washington and Lee University are well-positioned for high-paying careers in various fields.

What should prospective students know about Washington and Lee University?

Washington and Lee University holds a strong position in the market for small, private liberal arts colleges.

What makes Washington and Lee University stand out?

Median earnings 10 years after graduation are $94,810.

What are the pros and cons of attending Washington and Lee University?

Tuition is the same for in-state and out-of-state students.

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Analysis based on U.S. Department of Education data. Not enrollment advice. Verify information with the institution directly.