Quantcast
CollegeCalc Highest List Price Rank - 89th

Annual Costs

Undergraduate Tuition

Tuition for Washington and Lee University is $49,170 for the 2017/2018 academic year. This is 77% more expensive than the national average private non-profit four year college tuition of $27,755. Washington and Lee University is one of the 100 most expensive colleges in the America, coming in 89th on our Expensive 100 Ranking. The cost is 142% more expensive than the average Virginia tuition of $20,337 for 4 year colleges. Tuition ranks 57th in Virginia amongst 4 year colleges for affordability and is the 2nd most expensive 4 year college in the state. Price does not vary by residence.

The school charges an additional fees of $1,000 in addition to tuition bringing the total effective in-state tuition to $50,170.

Housing Costs

On campus room and board is provided by the school at a cost of $11,910 per academic year. Students electing to live off campus elsewhere in Lexington should budget at least this amount.

Books and Supplies

The estimated annual cost for books and supplies is $1,800.

Other Living Expenses

If living on-campus, students should budget for $2,070 in additional living expenses. Off-campus students should budget for $0 in other miscellaneous living expenses.

Total Costs

The annual tuition and living expense budget to go to Washington and Lee was $65,950 for the 2017/2018 academic year. The cost is the same for all students regardless of Virginia residence status as there is no in-state discount.

Citation: Price data from the U.S. Department of Education's 2017-2018 and 2016-2017 IPEDS survey response for Washington and Lee University and represent reported costs for the 2016-2017 and 2015-2016 academic years.

Costs and Tuition for Washington and Lee University
Estimated Budgets
Virginia Resident Total Budget $65,950
   In-State Tuition$49,170
   Other Fees$1,000
   Room and Board$11,910
   On-Campus Other Budget$2,070
   Books and Supplies$1,800
Non-Resident Total Budget $65,950
   Out-of-State Tuition$49,170
   Other Fees$1,000
   Room and Board$11,910
   On-Campus Other Budget$2,070
   Books and Supplies$1,800

Advertisement

What it Really Costs

Depending on many factors including student and parent income and assets, the total cost of attendance may be less than the $65,950 published price if scholarship or grant aid is made available to you.

Net Price

The net out-of-pocket total cost you end up paying or financing though student loans is known as the net price. The reported Washington and Lee net price for in-state students is $20,700* for the 2014/2015 academic year. This net price includes housing and meal expenses.

Pell Grants and other Grant Aid

54% of Washington and Lee University students received grant aid in 2014/2015. The average total aid amount was $37,875. 10 percent of students received aid in the form of Pell Grants from the U.S. Federal Government. The average Pell Grant awarded for 2014/2015 was $3,760. To apply for a Pell Grant to attend Washington and Lee University, the first step is to fill out the Free Application for Federal Student Aid (FAFSA).

Net Price and Financial Aid for Washington and Lee University
Financial Aid Summary
Average Annual Net Price$20,700*
Percent of Students Receiving Grant Aid54%
Average Total Grant Aid$37,875
Percent of Students Receiving Pell Grants10%
Average Amount of Pell Grant Aid$3,760

Average Net Price by Family Income

The average net total cost of attendance for different levels of family income after federal, state or local government, institutional grant and scholarship aid are awarded. Data last published for the 2014/2015 academic year.

Family Income Avg. Net Price
$0 to $30,000$353
$30,001 to $48,000$2,132
$48,001 to $75,000$7,437
$75,001 to $110,000$17,605
$110,000+$38,014

Average Financial Aid Mix - $65,950 In-State Total Cost

CollegeCalc has estimated typical coverage of the annual in-state tuition and living expenses of $65,950. Breakdown is based on average grant aid and federal loan aid which will vary based on your family income.

59%
9%
32%

Grants and Scholarships

 59% - $37,875

Money granted to you by the U.S. Department of Education, Washington and Lee University or other organizations. These are not loans and do not need to be repaid.

Federal Loans

 9% - $5,669

Low interest student loans funded by the U.S. Department of Education. This amount will need to be repaid.

Out of Pocket

 32% -  $20,336

Covered by family savings, work or private student loans which you will have to repay.


*Reported Average Annual Net Price for students receiving grant or scholarship aid reported to the U.S. Department of Education's Academic Year 2014-2015 IPEDS Survey. Financial aid is only available to those who qualify. Consult this school's net price calculator for further understanding of your potential net price.

Note that for colleges with no reported on-campus room and board, the average net price has been increased to account for living expenses. This number may not only reflect the net price paid to the school for tuition.

Is it Worth the Cost?

To make a comparative assessment if Washington and Lee is worth the price, measures of it's relative value for tuition dollar can be examined. We've calculated an academic national percentile rating of 96/100 for Washington and Lee University. Considering an average net price paid of $20,585, this leads to an overall value ranking of 78/100. This places the school 56th on our national Best Value Colleges ranking as a provider of a very high value education compared to actual overall price paid.

Tuition Comparison to Similar Private Colleges in the Region

School Cost vs. Washington and Lee University
University of Richmond3.5% more expensive
Duke University5.2% more expensive
American University6.8% less expensive
George Washington University8.7% more expensive
Georgetown University5.2% more expensive

Cost of a Degree

When considering ability to pay for college, the annual cost is often discussed but it's the "all in" multi-year degree cost which matters in the end. Let's take a look at what it could really cost for four years at Washington and Lee University.

Estimated 4 Year Cost at Published Tuition

At the current published rates, an estimated total tuition, fees and living expense price for a 4 year bachelor's degree at Washington and Lee is $263,800 for students graduating in normal time. This methodology for estimating the 4 year cost is a straight multiple of the most recent reported annual total cost and does not factor in tuition increases during the time you're in school. It also assumes you receive no grant or scholarship aid and pay the full list price.

A potentially more accurate but less conservative estimate of a degree cost can be made by using the school's annual $20,585 in-state net price as the basis. Applying this cost over 4 would estimate the cost of a degree at $82,340**

If you end up on the "five year plan" and need an additional year to graduate, your five year cost could be as high as $329,750 or $102,925 using an average net price.

**Based on a 4 year multiple of Average Annual Net Price for students receiving grant or scholarship aid reported to the U.S. Department of Education's 2014-2015 IPEDS Survey. Financial aid is only available to those who qualify. Consult this school's net price calculator for further understanding of your potential net price.

Other Costs

Estimated Cost Per Semester

Most colleges don't charge students on an annual basis but instead require payment semester by semester. If you ever need to take an additional semester of classes to complete you degree you shouldn't have to pay for a full academic year. These our estimated costs for a semester at Washington and Lee University.

Virginia Resident Tuition Per Semester$24,585
Virginia Resident Total Cost Per Semester$32,975

Cost Per Credit Hour and Cost for a Class

Some schools offer the ability to take single classes by paying on a per credit hour basis. The reported price per credit hour and estimated cost for one class at Washington and Lee University are as follows. Per credit costs are for reference only as many schools will not allow students to pay by credit hour.

Cost per credit hour and per class at Washington and Lee University
Price per credit hour$1,756
Cost for one class (3 credit hours)$5,268
Cost for one class (4 credit hours)$7,024

Advertisements

Student Loans and Debt

The second consideration after understanding the cost of college is determining how to finance it. Some students are fortunate enough to have some form of family financial assistance, but student loans end up financing a significant portion of higher education in the U.S. 19% of Washington and Lee University students receive U.S. Federal Student Loans with an average annual Federal Loan aid amount of $5,669. The reported average student debt upon graduation is $21,538.

Example Loan Payments and Costs

How much are student loan payments for Washington and Lee University? Obviously this varies based on a number of factors - offsetting financial aid you receive, percentage of fee you pay upfront while enrolled and the interest rate on your loans. We've modeled a sample student loan based on current Stafford loan rates to give you an approximate idea.

The following are the costs for a loan if you borrowed $82,340, 100% of the estimated average net price for a four year program and paid nothing while enrolled. The total of all payments including interest would sum $102,165.06. This could be your effective total out of pocket cost of an education at Washington and Lee University. Note that this calculation assumes you don't pay full list price tuition, are part of the reported 54% of students at this school who receive financial aid and you are paying an average annual net price of $20,585. If you do not financially qualify for a reduced net price, your student loan payments could be significantly higher than this example. Use our Washington and Lee University student loan calculator below to change loan assumptions and recalculate.

Student loans are not free money and must be repaid. You cannot dismiss student loans by via bankruptcy.

Washington and Lee University Student Loan Payments
Example Payments
Monthly Loan Payment$851.38
Amount Borrowed$82,340.00
Interest Rate4.5%
Term10 years
Number of Monthly Payments120
Total Interest Cost$19,825.06
Sum of All Payments over 10 years$102,165.06

Affording Student Loan Payments and Post Graduation Salary

Can I afford to attend Washington and Lee? In the end, the answer comes down a determination if you will earn enough to comfortably pay back a student loan with your post graduation salary. This is an extremely important point to consider. In order to afford student loan payments and still meet all your other costs of living, it is recommended not to borrow more than you can pay back using 10% of your monthly income earned after graduation. If you're considering attending Washington and Lee University, you need to carefully consider if it will be realistic to make the post graduation loan payments based on your expected salary.

Using the 10% of salary threshold, an annual income of $102,165.06 would be needed to afford a $851.38 monthly payment in the example $82,340.00 loan modeled above. You will need to determine if it is at all realistic that you will be earning this type of salary after graduation. This assumes a loan payback over 10 years. You can change the terms of this example loan using the student loan calculator below.

Estimated Future Cost and Expected Tuition Increase

What will it cost to send your child to Washington and Lee University in the future? In the past four years, this school's published in-state tuition and fee total rose from $42,425 to $49,170. This amounts to an average annual price increase of 3.2%. Nationally, university tuition prices are rising around 5% per year. Looking out five, ten, fifteen or eighteen years, these are CollegeCalc's estimates how much you could expect to pay for a 4 year degree assuming tuition increases at the national average rate. Estimated future prices are based on the current 4 year cost of $263,800.00. Use the college savings plan calculator below to perform a more comprehensive analysis on future costs and how much you will need to save for Washington and Lee University.

Annual4 Year Degree
Estimated Cost in 5 years for students enrolling in 2024$90,697$362,787
Estimated Cost in 10 years for students enrolling in 2029$115,754$463,018
Estimated Cost in 15 years for students enrolling in 2034 $147,735$590,941
Estimated Cost in 18 years for students enrolling in 2037 $171,022$684,088

Comparable Cost for Popular Majors

We've compared the out of state cost of the most popular undergraduate areas of study at Washington and Lee University to the national average for all other colleges offering the same major. Use this comparison to determine particular programs where this school offers value relative to other colleges.

Area of Study Graduates vs National Avg
Accounting and Business/Management Bachelor's Degree 45 183% costlier
Biology/Biological Sciences, General Bachelor's Degree 22 63% costlier
Political Science and Government, General Bachelor's Degree 13 59% costlier
Biochemistry Bachelor's Degree 11 42% costlier
Economics, General Bachelor's Degree 9 47% costlier
History, General Bachelor's Degree 8 61% costlier
Spanish Language and Literature Bachelor's Degree 7 53% costlier
English Language and Literature, General Bachelor's Degree 7 64% costlier
Music, General Bachelor's Degree 7 60% costlier
Mathematics, General Bachelor's Degree 6 61% costlier
Journalism Bachelor's Degree 6 71% costlier
Sociology Bachelor's Degree 6 60% costlier
Environmental Studies Bachelor's Degree 5 35% costlier
Neuroscience Bachelor's Degree 5 15% costlier
Religion/Religious Studies Bachelor's Degree 4 39% costlier
Psychology, General Bachelor's Degree 4 63% costlier
Fine/Studio Arts, General Bachelor's Degree 4 53% costlier
East Asian Languages, Literatures, and Linguistics Bachelor's Degree 4 17% costlier
Art History, Criticism and Conservation Bachelor's Degree 3 34% costlier
Business Administration and Management, General Bachelor's Degree 3 91% costlier
Romance Languages, Literatures, and Linguistics Bachelor's Degree 3 14% costlier
Medieval and Renaissance Studies Bachelor's Degree 2 11% costlier
Drama and Dramatics/Theatre Arts, General Bachelor's Degree 2 55% costlier
Geology/Earth Science, General Bachelor's Degree 2 59% costlier
German Language and Literature Bachelor's Degree 2 40% costlier
Chemistry, General Bachelor's Degree 2 58% costlier
Physics, General Bachelor's Degree 2 50% costlier
Computer Science Bachelor's Degree 1 57% costlier
Engineering Physics/Applied Physics Bachelor's Degree 1 35% costlier
French Language and Literature Bachelor's Degree 1 43% costlier
Philosophy Bachelor's Degree 1 46% costlier
Classics and Classical Languages, Literatures, and Linguistics Bachelor's Degree 1 24% costlier
Chemical Engineering Bachelor's Degree 1 44% costlier
Anthropology Bachelor's Degree 1 46% costlier

Calculators

Use the calculators below to formulate a college savings plan for Washington and Lee University or model a student loan.

College Savings Calculator

Plan and Save for College

Discover how much will you need to start saving now to afford Washington and Lee University in the future.

Student Loan Calculator

Estimate Loan Payments

Modify the loan assumptions to fit your financial situation and likely tuition price. Then calculate your payoff and loan payments for a Washington and Lee University student loan.

Prepayment Option

About Washington and Lee University

Washington and Lee University is a four year private college located in Lexington, Virginia.  Full time enrollment is 2,154 and part time is 6.

Students attending this school may pursue both undergraduate and graduate degrees.

Address
Washington and Lee University
204 West Washington Street
Lexington, Virginia
24450-2116

For Profit / Not For Profit Status

Washington and Lee University is a private not for profit institution.

Washington and Lee University cost and financial aid data source: U.S. Department of Education https://nces.ed.gov/collegenavigator/?id=234207 IPEDS survey data.