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Washington and Lee University

Washington and Lee University
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Parent Information

Parents of Prospective Students

During the first week of classes, the Financial Aid staff met with first year students to provide an overview of financial aid matters.  Below are some key topics addressed:

  • All awards have an academic component.  We encourage students to reach out early to their professors, advisor, and the Financial Aid staff if they are having difficulties. 
  • Honor scholarship recipients need to reference their original award cover letters for renewal requirements.
  • National Merit recipients must renew their awards each year by returning the renewal form mailed out to their permanent addresses by the National Merit Scholarship Corporation.
  • The total of all grants and/or scholarships received in excess of tuition, fees, and books is considered taxable income and may need to be reported on the student's federal or state tax returns.
  • Students receiving institutional grants will be contacted by our office to complete a Stewardship Form.
  • Email is our primary method for communicating with students.  They are reminded to read all correspondence from our office.  Many notices will require an action on the student's part.
  • Students are encouraged to monitor their status online and to create a Parent Log-In for parents to view Financial Aid information online.
  • Credit balances from aid can be left on the student's tuition account and rolled forward to future semesters.  Students can also request the credit balance by contacting the Business Office.
  • The admissions confirmation deposit created an $850 credit towards the fall charges.  Because of this, the winter bill may seem $850 higher.
  • It is the student's responsibility to monitor the billing account through the GPS.
  • If a family is selected for verification, additional documents will be required and must be returned before federal aid can be applied to the student's account.
  • Outside scholarships are credited to the student account as checks arrive.  If the annual amount is sent as one check, the full amount will be credited to the student's account.  The scholarship agency or the student may request the funds be split between both semesters.
  • Work-study is paid to students in the form of a paycheck for hours worked.  Students are paid once a month.