Washington and Lee University
Lexington, Virginia · Private Nonprofit · 14.0% acceptance rate
ROI Score: 91/100 · Exceptional Value
Data: 2024-25 College Scorecard release
Washington and Lee University scores 91 (Exceptional Value) on CampusROI. A 3.9-year payback period, $58,900 average 6-year earnings, and a 93.9% completion rate drive the exceptional tier placement. Median debt of $19,500 is low relative to outcomes, and the 10-year earnings of $94,810 confirm strong long-run career trajectory. The net price of $23,781 is competitive for an institution with $68,045 sticker tuition. For the lowest income brackets, W&L's aid is exceptional: families earning $0-30,000 receive a net credit of -$1,777 per year, and the 30001-48000 bracket pays just $75 per year. These figures indicate W&L's endowment-funded aid effectively eliminates cost for most low-income admitted students. The program set is concentrated: Accounting (40 graduates, A-grade), Business Administration (96 graduates), Economics (67 graduates, B+), International Relations (70 graduates), and History (17 graduates) account for the institution's output. W&L's admissions selectivity is 14%.
Graduates recoup their total investment in just 3.9 years. The median across the schools we score is about 12 years.
Washington and Lee University
Quick Numbers
| In-state tuition + fees | $68,045/yr |
| Out-of-state tuition + fees | $68,045/yr |
| Average net price | $23,781/yr |
| Total 4-year cost (net) | $95,124 |
| Median earnings (10yr post-entry) | $94,810 |
| Average earnings (6yr post-entry) | $58,900 |
| Median debt at graduation | $19,500 |
| Estimated monthly loan payment | $207 |
| Estimated payback period | 3.9 years |
| 6-year graduation rate | 93.9% |
| Undergraduate enrollment | 1,881 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The first number you'll see is the sticker price: $68,045/year, which covers tuition and fees only. After grants, scholarships, and aid, the average student here pays a net price of $23,781/year, or roughly $95,124 over four years. That's the number to plan around.
What you actually pay depends a lot on what your family earns. Families making under $30,000/year pay an average of -$1,777/year here, while families earning over $110,000 pay $40,646/year. If money is tight, that matters: this school gives low-income students enough aid to land well below the sticker price.
Among graduates who borrowed, the median federal loan debt from this school is $19,500, which works out to about $207 a month on the standard 10-year repayment plan. Our debt-to-earnings ratio divides that debt by average earnings six years after entry ($58,900) and comes to 0.33, which in our view is comfortably manageable.
Net Price by Family Income
What families actually pay after grants and scholarships, by income bracket.
| Family Income | Avg Net Price/Year |
|---|---|
| $0 - $30,000 | -$1,777 |
| $30,001 - $48,000 | $75 |
| $48,001 - $75,000 | $4,497 |
| $75,001 - $110,000 | $8,162 |
| $110,001+ | $40,646 |
Low-income students may receive more in grants than the cost of attendance, resulting in a negative net price.
Cost by Income Bracket Explained
Lower-income families (under $30K)
Families earning under $30,000 receive a net price of -$1,777 per year at W&L - meaning the institution's aid package exceeds the cost of attendance for the average student in this bracket. The 30001-48000 bracket pays just $75 per year. Low-income families with admitted students face effectively zero net cost, which combined with the 3.9-year payback and $58,900 average earnings makes this an exceptional financial opportunity.
Middle-income families ($30K-$110K)
The 48001-75000 bracket pays $4,497 per year - still very low. The 75001-110000 bracket pays $8,162. Middle-income families earning up to $110,000 pay $18,000-$33,000 total over four years, which against $58,900 average 6-year earnings and a 3.9-year payback is an excellent value proposition. W&L's aid model strongly favors families below $110,000.
Higher-income families ($110K+)
Families earning over $110,000 pay $40,646 per year - approximately $163,000 over four years. Accounting, business, and economics graduates with year-four earnings of $115,000-$122,000 can recover the four-year cost in under three years at career peak.
Earnings by Major
Top 5 most popular majors at Washington and Lee University with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Business Administration, Management, and Operations | $121,699 | - |
| International Relations | $95,190 | - |
| Economics | $115,837 | B+ |
| Accounting | $118,946 | A |
| History | $100,087 | - |
Earnings reflect median 4-year post-completion (or 1-year where 4-year unavailable). Grades based on debt-to-earnings ratio.
Program Analysis
Why these programs deliver their earnings outcomes.
Accounting
Accounting (40 graduates) is W&L's top ROI program: $81,625 year-one, $118,946 year-four, ROI grade A, with median debt of $16,750 and a debt-to-earnings ratio of 0.205. The year-one figure of $81,625 is strong for any accounting program nationally, and reflects the quality of placement from a selective liberal arts institution into regional and national accounting firms. The four-year trajectory to $118,946 suggests CPA-track progression and potential movement into finance and management roles.
Business Administration, Management, and Operations
Business Administration (96 graduates) is the largest program at W&L: $76,627 year-one and $121,699 year-four (no debt data). Year-one earnings are above $76,000 and year-four near $122,000. The absence of debt data limits the ROI grade calculation, but the earnings trajectory is clearly strong. W&L's business program attracts students targeting consulting, investment banking, and corporate finance pipelines.
Economics
Economics (67 graduates) earns $71,737 year-one and $115,837 year-four, with median debt of $23,399 and a debt-to-earnings ratio of 0.326 (ROI grade B+). The four-year earnings of $115,837 reflect W&L's placement into finance and consulting. The B+ grade (not A) reflects moderate debt relative to year-one earnings, but the long-run trajectory is excellent.
International Relations
International Relations (70 graduates) reaches $95,190 at year four (no year-one data, no debt data). The year-four figure of $95,190 is strong for a political science track program and suggests significant placement into law, government, consulting, and international business.
History
History (17 graduates) reaches $100,087 at year four (no year-one or debt data). A year-four earnings figure above $100,000 for a humanities program reflects the W&L brand effect on professional school and employer placement. No debt data limits the ROI grade, but for a humanities field, $100,087 at year four is exceptional and indicates law or finance career pipelines absorbing a significant share of graduates.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Median of schools we score |
|---|---|---|
| 1-year repayment | N/A | 68.8% |
| 3-year repayment | N/A | 73.6% |
| 5-year repayment | 91.0% | 67.7% |
| 7-year repayment | 95.4% | 72.8% |
Completion Rate
Trends Over Time
How Washington and Lee University’s cost and outcomes have moved across College Scorecard releases (2009-2024).
Average Net Price
Completion Rate
Median Earnings, 10 Years After Entry (as reported)
Earnings reflect borrowers measured 10 years after entry and publish on an irregular cadence with a multi-year reporting lag, so this series shows only the years the Department of Education reported - the data is never interpolated.
Source: U.S. Department of Education College Scorecard, release years shown. Net price and completion are reported annually.
Admissions Snapshot
| Acceptance rate | 14.0% |
| SAT Math (25th-75th) | 720-780 |
| SAT Reading (25th-75th) | 710-760 |
| ACT Composite (25th-75th) | 33-34 |
| Enrollment | 1,881 |
| Pell Grant recipients | 11.3% |
| Avg faculty salary (monthly) | $14,155 |
At 14% admission, W&L is highly selective. SAT 720-780 Math and 710-760 Reading and ACT 33-34 describe a cognitively high-performing admitted class. The institution's honor system is a cultural commitment, not just a policy. Admitted students are expected to function with high autonomy and integrity. The repayment rate data is imputed (not directly observed) given data limitations. Families should interpret the ROI score with that caveat, though all other sub-scores are based on complete data.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
W&L's payback is 3.9 years, driven by the strength of business and accounting program outcomes.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Washington and Lee University (this school) | 91 | $23,781 | $94,810 |
| Amherst College | 90 | $23,367 | $77,644 |
| Davidson College | 90 | $17,379 | $81,400 |
| Hamilton College | 89 | $28,985 | $78,411 |
| Averett University | 37 | $22,925 | $51,516 |
| Bluefield University | 32 | $25,573 | $48,896 |
Who Thrives Here
Washington and Lee admits 14% of applicants, placing it in the highly selective tier. SAT mid-ranges are 720-780 Math and 710-760 Reading; ACT 33-34. Enrollment is 1,881. Pell rate of 11.3% is low, reflecting both selectivity and the high-income backgrounds of much of the applicant pool. The Lexington, Virginia location is rural and isolated, which shapes a campus culture centered on residential and honor-code traditions. Students who thrive here generally seek a tight-knit intellectual community rather than a large-university experience.
The Verdict: The Investment Pays Off
If you're asking whether Washington and Lee University is worth it, the short answer is yes - it's one of the strongest money decisions in higher education. Four years here run about $95,124 after aid, and the typical graduate earns $94,810 ten years out. That earnings head start covers the cost in roughly 3.9 years, well ahead of most schools.
What it has going for it: a strong earnings premium over high school graduates, its 93.9% graduation rate, manageable debt relative to earnings.
Median debt of $19,500 among graduates who borrowed, against average earnings of $58,900 six years after entry, gives a debt-to-earnings ratio of 0.33, under the 1.0 point at which debt would equal a full year of those earnings. Your major matters a lot here: graduates in higher-earning fields will see the better end of this.
Washington and Lee University: Common Questions
Is Washington and Lee University worth it?
In our view, yes - for most students Washington and Lee University pays off. It scores 91/100 on our ROI scale. You'd pay about $23,781 a year after aid ($95,124 over four years), and the typical graduate earns $94,810 ten years after enrollment, so the cost takes roughly 3.9 years to earn back.
How much does Washington and Lee University cost after financial aid?
The average net price - the cost of attendance (tuition, fees, books, supplies and average living costs) minus grants and scholarships, for full-time, first-time students receiving federal aid - is about $23,781 a year, or roughly $95,124 over four years. Because it counts living costs, it can run above tuition alone. That is the number to plan around. Actual cost varies by family income, per the U.S. Department of Education's College Scorecard.
What do Washington and Lee University graduates earn?
The typical graduate earns about $94,810 ten years after enrolling, roughly $53,010 a year more than the median high-school graduate ($41,800, per NCES, 2022). That earnings gap is what has to cover the cost of the degree.
How long does it take to pay off Washington and Lee University?
We estimate the payback period - the time it takes for the earnings bump over a high-school graduate to cover what you spent - at about 3.9 years for Washington and Lee University. The median across the schools we track is about 12 years.
How much debt do Washington and Lee University graduates take on?
Among graduates who borrowed, median federal loan debt from this school is about $19,500, against average earnings of $58,900 six years after entry - a debt-to-earnings ratio of 0.33. In our view that is reasonable, though your major matters: higher-earning fields will see the better end of it.
What is the graduation rate at Washington and Lee University?
The six-year graduation rate is 93.9%, at or above the 64% national average for four-year schools (NCES, 2022). Completion is 15% of our ROI score, since a degree you don't finish rarely pays back.
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Data: College Scorecard API (U.S. Department of Education)
Vintage: 2024-2025 · Last updated: 2026-03-25
Earnings reflect median outcomes for all federal financial aid recipients. Individual results vary by major, effort, and career path.