Financial Aid Brochure: International 2024

FINANCIAL AID HANDBOOK

AN EASY-TO-NAVIGATE GUIDE FOR FIRST-YEARS

Welcome and Congratulations!

Welcome, Class of 2028!

We in the Office of Financial Aid at Washington and Lee University understand that preparing for your first year at college can be overwhelming. With that in mind, we have compiled this booklet with information that should help clarify some of the important steps in the aid process and provide some additional details regarding using your W&L International grant, Johnson scholarships and/or work-study options. We look forward to assisting you throughout the 2024-25 academic year.

Please carefully read all the following information included in this booklet and do not hesitate to contact us at 540-458-8717 or financialaid@wlu �edu if you have questions.

James Kaster, Director, Office of Financial Aid

The W&L Office of Financial Aid uses email for all essential correspondence. Please pay special attention to any email with the subject line “W&L Financial Aid”. Beginning June 15, we will use your W&L email address for any email correspondence.

FIRST-YEAR CHECKLIST

AND IMPORTANT

DATES

o May 15-31: Review your 2024-25 Financial Aid Notification on the Financial Aid Portal.

o June 10: Priority deadline to “Accept” Work-Study awards on-line.

o June 10: Work-Study application and hiring process opens for those who have accepted their Work-Study offer by the priority deadline.

o July 15: Deadline to submit the Signature Authorization form to the Office of Financial Aid. Enables continued access to on-line processes.

o July 15: Add Financial Aid access for parents or others in Friends and Family. See page 9 “Guest/Parent Access (FERPA).”

o July 20: Review your billing account on-line to verify financial aid credits, pending/estimated aid, and to determine if you have a balance due.

o July 26: Final deadline to Accept on-line any Work-Study offer. Pending Work-Study at this point is “Declined.”

o August 16: Summer deadline to apply for fall term Work–Study positions. If you have not obtained a WorkStudy position by this date you will not have another opportunity until September 1.

o August 22: Mandatory on-campus Financial Aid information session for all athletes.

o August 23: Mandatory on-campus Financial Aid information session for international students.

o September 1: The last round of Work-Study hiring begins for those who are still seeking employment. Interested students must contact Student Employment by this date.

o September 2: Mandatory on-campus Financial Aid information session for all grant and scholarship recipients.

o September 4: Mandatory on-campus information session for all Work-Study participants.

o October 15: Deadline to apply for a fall term WorkStudy position.

Glossary

FINANCIAL AID TERMINOLOGY

Academic Term At W&L there are two academic terms. The fall term and the winter/spring term.

Cost of Attendance

Credit Balance/ Refund

FERPA

Financial Aid Notification

Grants/ Scholarships

The estimated total cost of attending W&L for one academic year. Includes: Tuition, fees, food, housing, books/supplies, personal and travel.

Aid funds or payments to your student account that exceed the charges. If you have a credit on your account you can request this credit from the Business Office in the fall.

FERPA is a federal law that protects the privacy of student education records. This law restricts access to student records and allows access only to those individuals who are specifically assigned within W&L’s Friends and Family process.

A document that lists all specific aid options for which a student is eligible. This can include grants, scholarships, loans and/or work-study.

Sometimes called gift aid, this type of award provides funds that do not need to be repaid. Eligibility may be academic based or need based.

Loans

Need

Office of Financial Aid

Outside Scholarship

Pending or Estimated Aid

Priority Deadlines

A form of financial aid that must be repaid. Terms and fees vary depending on the type of loan.

The student’s Cost of Attendance minus their Family Contribution. The Family Contribution for W&L is determined using an evaluation of the W&L need-based application.

The W&L office where students and families can meet with financial aid staff and review financial aid options.

Any award or benefit a student receives from a source outside of W&L.

Financial aid that has been awarded but has not yet disbursed to the student account.

Date in which documents and applications should be submitted to ensure that all aid will be credited to the students account in a timely matter.

THE FINANCIAL AID PORTAL

Up until this point, you have been viewing financial aid information on the Applicant Portal. Your aid information has now been transferred to the Financial Aid Portal, and you can access this portal using the “Check Your Aid Status” link on the Financial Aid home page: my�wlu �edu/financial-aid. To make the most of your financial aid offers, we encourage you to familiarize yourself with the Financial Aid Portal.

ITEMS REQUIRING YOUR ATTENTION

When you click on this link you will see a listing of documents and forms that should be reviewed, and may need to be completed to finalize your aid options. This page replaces the Financial Aid Checklist on the applicant portal. Additional documents may post throughout the year, and periodic review of this page is recommended. Key areas of this page include:

Signature Authorization Form

The Signature Authorization form provides your consent to make on-line submissions and access your financial aid notification using the Financial Aid Portal. Please print the form, sign, and date. You can submit the completed form by mailing directly to the Office of Financial Aid or send as an email attachment (in pdf format) to financialaid@wlu.edu. Please note the form requires a handwritten signature.

Guest/Parent Access (FERPA)

This link will redirect you to the Friends and Family (F&F) instructions. Adding a parent or others to Friends and Family and giving them financial aid access will allow those individuals to view your Financial Aid Portal and allow the Office of Financial Aid to discuss Financial Aid issues with that individual. You will need to check the third-party user and select View Financial Aid Package.

Beginning the first day of the academic year, the Office of Financial Aid can share information only with individuals listed on your Friends and Family with the View Financial Aid Package option checked.

Your 2024-25 Financial Aid Notification

Access your 2024-25 Financial Aid Notification and mark any WorkStudy offer as Accept or Decline by the appropriate deadline listed in the Checklist. Do not forget to Submit the form. Grants/scholarships are accepted by the Financial Aid Office.

Some aid may require the receipt of additional documentation before showing as being accepted. Any submission you make may take up to 48 business hours to update on-line. Below is an example of the aid notification.

Your Aid Package – Original Mailed

This is a static PDF copy of your original award notification and is not updated.

Federal Shopping Sheet

Clicking on the Federal Shopping Sheet takes you to the federal award template which is not relevant for international students but can be used to compare awards from various schools. It is not the official W&L aid notification.

Work-Study

This section of the Financial Aid Portal will list various links related to the WorkStudy program. Initially there may not be a WorkStudy section or any items listed under WorkStudy. Links to create an application and apply for open positions will appear in June for students who accepted their Work-Study award. See page 17 for further details on the WorkStudy program.

Scholarship and Resource Reporting

Allows you to enter details for any outside scholarship or benefit you receive. You are required to notify the Office of Financial Aid if you are receiving any scholarship or resource (tuition benefit, veteran benefit, etc.) from a source outside of the University. Outside scholarships and/or resources may affect your W&L award. Please see your original award notification for details.

Your Loan History

Provides a breakdown by academic year of any private loan, and/ or W&L loan funds you have received while enrolled at W&L. A grand total and estimated monthly payment are calculated for each loan type. Your Loan History is available to you while enrolled and a short time after graduation.

COLLEGE COST

2024-2025 Cost of Attendance

Cost of Attendance is a list of the expected expenses you may incur during the academic year. These include tuition, fees, housing, food, books/supplies, miscellaneous and personal expenses and travel. Your financial aid offers are based on the full cost of attendance, i.e., if you applied for aid, then you have received aid offers that could include grant/scholarship, loans and Work-Study. The total of this aid will equal your cost of attendance.

Direct vs. Indirect Costs

The billed or “direct cost” for W&L includes tuition, fees, housing and food. Your Fall and Winter Term bills are posted in July and November. Firstyear students are billed for the full meal plan but can reduce the plan in subsequent years; your aid award will continue to be based on the full meal plan, meaning no reduction in aid if you choose a lesser plan in the future. There are other expenses you will incur during the year such as books, supplies, general personal needs and travel. These items are considered “indirect costs” and in most cases will not be part of your term bill. You will see book charges on your bill if you purchase your books or supplies from the University Store and choose to charge the purchase home.

Travel to Campus

Students are expected to make their own travel arrangements to and from W&L during the academic year. W&L does not pay for your travel, but you can use any credit generated by your grant to reimburse yourself for some or all of your travel expenses. An estimated amount for travel, based on one round-trip ticket to and from your country, is part of your overall Cost of Attendance budget. Travel expenses are incorporated into your total aid package, including the amount your family is expected to contribute. Most grants do not have an amount for travel, and in most cases, the student’s family is expected to pay the full cost of travel. If a credit is generated by your grant or scholarship, then it can be accessed at the start of the Fall and Winter Terms. The amount estimated for your travel may vary from your actual costs. Please see your award notification for details on travel to and from W&L.

Buying your Books

You can purchase your textbooks and supplies from the W&L University Store when you arrive on campus, and they can be charged directly to your student account. If you have a credit on your account because of your grant/scholarship, then this charge will reduce that credit. If you do not have a credit, you can still charge the supplies to your student account. This charge will show as an amount due on your next university bill.

Health Insurance

Health insurance is required for all students. A University health insurance plan is automatically charged to all international students. The amount of your grant or scholarship was determined with health insurance as part of the cost of attendance and will not increase when health insurance is charged to your account. The health insurance cost may not appear on the first bill in July but will post by the September bill at the latest.

TYPES OF AID

Need-Based Grant and/or Scholarship

The International Grant is a need-based award that meets 100% of your institutional need and was determined through an evaluation of your need-based application. The total of your International Grant plus the amount your family is expected to contribute is equal to the Cost of Attendance. Johnson Scholars and W&L Scholars may receive funds that exceed your demonstrated need. The International Grant and Johnson Scholarship are considered “free” funds and do not need to be repaid. There are no requirements to renew these awards in subsequent years. Please see your award notification and the “Financial Aid that will Open Doors” section (pp. 20-21) for more details.

„ Taxes Related to Grants/Scholarships

University scholarships and the W&L International Grant may be subject to federal and state taxes. Students whose country has a tax agreement with the U.S. will see an additional grant amount at the end of the year to cover federal taxes. There is no additional funding for Virginia state taxes, and international students may be responsible for paying those fees each year. Please be aware of this possibility and contact Hunter Swanson in International Education for clarification when you arrive on campus. Questions regarding the tax-ability of your scholarships and grants should be directed to International the IRS or to a qualified tax consultant.

WORK-STUDY

W&L currently employs over 600 students through the WorkStudy program, offering employment in over 200 positions on and off campus. These positions include athletics, libraries, academic and administrative offices, the University Store and off-campus community based organizations. Many positions exist that support and enhance a student’s specific educational and career goals.

How do I Participate in the Work-Study Program?

If you have been offered Work-Study and wish to work during the 202425 academic year, you will need to accept the Work-Study offer listed on your on-line Financial Aid Notification. Beginning June 10, students will be sent an email from Student Employment with additional details and a link to the Work-Study application. Here’s a summary checklist of important steps:

1. Accept your work-study award on-line by June 10.

2. Review the Work-Study instructions emailed to you in June.

3. Complete your Work-Study application on the FA Portal.

4. Review open positions on the FA Portal and Apply.

5. Monitor your applications and accept a position.

6. Complete you I-9 and On-Boarding.

What is it Like to be a Work-Study Student?

Work-Study awards are typically $3,000 for the academic year, which usually means a student may work seven to nine hours per week to earn the full award. The Work-Study amount must be earned to be received and is paid directly to the student based on the number of hours worked each pay period. The award amount listed is not guaranteed but is the maximum that can be earned in the program. Supervisors understand that education comes first and will work with students to arrange schedules that do not interfere with coursework demands. The hourly rate for a Work – Study student can range from $12.50 to $13.50, based on the complexity of the position. If you have additional questions about the W&L Work-Study program, please email Miranda Edwards, Student Employment Manager, at studentemployment@wlu.edu.

BILLING AND PAYMENTS

In early July, you will be contacted by the Business Office with details on how to access the on-line payment system. All W&L billing is completed on-line. Within the payment system, you will be able to create accounts for other users such as your parents. Around July 15, registered users will receive a notice that the Fall Term bill is available for review. Payment is due on August 10. Subsequent bills from the Business Office will be posted around the 15th of each month and should be reviewed for any new charges/credits. Winter Term charges will show on the November bill. Please contact the Business Office at (540)458-8730 or businessoffice@wlu �edu for billing or payment questions. The Office of Financial Aid does not process any student billing or payments.

Estimated/Pending Aid

Estimated/Pending aid is an aid award that will reduce your bill, but has not yet actually disbursed, and will be applied to the account at a later date. Federal regulations prevent us from crediting federal grants and loans to your account in July when the fall bills are generated. However, these awards will display on your student account as estimate/pending aid once all requirements are met. Pending aid typically disburses the first week of classes or the following week.

Meal Plan Billing

W&L bills your meal plan based on the number of weeks in a term. However, financial aid grants, scholarships and/or loans are credited evenly between terms. The aid you receive for the fall term is half of your total aid for the entire year, and you can expect your winter term aid to be equal or similar. However, the winter term bill in November will reflect a larger meal charge, because the winter/spring term has more weeks. Since financial aid amounts do not vary between terms, but the meal plan charge does vary, you should be prepared for an amount due or credit on the winter term bill that will vary from what was reflected on your fall term bill.

Credit Balance

A credit balance on your student account is created if credits from financial aid or other sources are greater than the charges on your student account. A credit balance appears as a negative amount due. Students can schedule a refund of their credit balance by contacting the Business Office when they arrive on campus in fall. Winter credit balance refunds can be scheduled in January. A credit balance can be used to pay for indirect expenses such as books, supplies, personal expenses and travel.

Early Credit Balance Disbursement

In late July, some students with large credit balances will be contacted by the Business Office. These students will have the option to receive a portion of their credit as an early credit balance disbursement. Keep in mind, these funds are provided to assist in paying educational related expenses such as books and travel. It is wise to limit the use of this early disbursement to essential expenses necessary for your preparation to arrive on campus. In November, students who received the July disbursement will be contacted with information about the Winter Term early credit balance disbursement.

Holds and Late Fees

If you have an outstanding balance for an extended period, the Business Office may place a hold and/or assign a late fee to your account. Holds may prevent a student from registering for a class. A Business Office hold can only be removed by contacting the Business Office and paying the entire past-due balance. If you want to use a loan option to pay an outstanding balance you must accept the loan and complete all required documentation. An incomplete loan will not show as pending aid. You may wish to check your Items Requiring Your Attention to determine if any specific financial aid documents are incomplete. A student with an unpaid balance will continue to carry a hold and incur late fees until the balance is paid. It can take up to two weeks to process a loan, and during that period any Business Office hold will remain on the student account.

Please be aware the Office of Financial Aid does not place holds and cannot remove a hold that has been placed on a student account.

FINANCIAL AID THAT WILL OPEN DOORS

Study Abroad

If you receive grant, scholarship or loan(s) as part of your financial aid, then this aid can also be used to finance the cost of an approved Fall or Winter Term study abroad program. Grants and scholarships will be reduced in relation to the lesser cost of attendance of the study abroad program, but the overall family contribution should remain consistent with an on-campus term at W&L. You must attend the financial aid study abroad presentation in the academic term prior to your study abroad.

Spring Term Abroad

Spring Term Abroad (STA) is a unique part of the Washington and Lee experience. These courses allow students to get an up-close, intensive, and personal experience of the subject matter abroad with a W&L faculty member during the Spring Term. Unlike on-campus Spring Term courses that do not charge additional fees, there are additional fees associated with STA courses to cover travel, accommodation, facilities, and the other educational costs of the course. Any student who is receiving a university need-based grant will be eligible for funding to cover the additional expense related to an STA course. Students receiving merit scholarships are not automatically eligible for STA grants and must submit a complete need-based aid application to determine their eligibility. Students that are ineligible for need-based aid can request a loan to cover the cost instead.

Johnson Opportunity Grants

Grants are awarded on a competitive basis and are open to rising sophomores, rising juniors and rising seniors at W&L. The grants cover travel, living expenses, and other costs associated with the proposed project or summer activity. Grants are not limited to recipients of the Johnson Scholarship.

Resident Assistant

The W&L Residential Life program offers free housing and full meal plan for any student hired to the Residential Life Staff. First-year students may apply in the fall of 2024 for the academic year 2025-26. The value of the housing and meal plan will be reflected on the financial aid package as an award; however, it will not reduce any grant or scholarship you are receiving unless the total of all awards exceeds the cost of attendance.

Students should be aware that application for Residential Life Staff (2025-26), sign up for Spring-Term Abroad (Spring 2025) and application for many summer 2025 internships and research opportunities occur during the Fall Term of 2024.

Greek Life

Financial aid awards do not increase to cover any of the additional costs related to fraternities or sororities. However, your aid award does provide funding (in the form of grant and/or loans) that covers the standard costs for housing and food, and those funds can be used to help pay your housing and food expenses at the Greek organization.

RENEWING YOUR FINANCIAL AID

W&L International Grants and Johnson Scholarships are automatically renewed each year without additional application. However, if there is a significant change in your family situation, such as cases of involuntary job loss, illness/death, or other significant unplanned events leading to major financial disruptions, then you can apply for additional need-based aid for the subsequent year. Contact the Office of Financial Aid to determine if you are eligible.

Living Off-Campus

You are required to live in on-campus housing your first three years, but as a senior you may elect to live off campus. The level of financial aid you receive will not change when living off-campus. The Cost of Attendance that your financial aid is based on will continue to use the cost of the standard on-campus housing and the full meal plan, which may be more or less than you spend for living off campus. To make funds available for off campus expenses, credit balance checks and direct deposit to your personal account is available. Students should set up direct deposit via Workday if interested and checks can be requested from the Business Office.

FAQs for First-Year Students

Common first-year questions and answers on financial aid.

„ my.wlu.edu/financial-aid/faqs-and-policies/first-year-faqs

Financial Aid Information and Resources

Detailed information on financial aid offered at W&L.

„ my.wlu.edu/financial-aid/faqs-and-policies/aid-resources

Budgeting and Managing Your Funds

The College Budget Worksheet (linked below) is a tool that will help you in the financial planning of your education for the nine – month academic year.

„ my.wlu.edu/financial-aid/faqs-and-policies/aid-resources

FINANCIAL AID STAFF

JAMES KASTER

Director of Financial Aid

W&L Need-Based Grants, International Grants

JENNIFER DAVIS

Associate Director of Financial Aid

Johnson Scholarships, National Merit

DRAKE BREEDEN

Senior Assistant Director of Financial Aid

Student and Parent Loans, Law School Student Aid

SHANICE HARDY

Assistant Director of Financial Aid

QuestBridge, Spring Term Abroad, Federal & State Grants

MIRANDA EDWARDS

Student Employment Manager Work-Study and Student Employment

MARTHA ROWSEY

Senior Financial Aid Coordinator

W&L Loans, Veteran Benefits, ACS Tuition Exchange

VICKI PICKLE

Financial Aid Coordinator

Student Employment, Application Processing

Office Hours: 8:30am – 4:30pm EST

EMAIL: financialaid@wlu.edu | studentemployment@wlu.edu

TELEPHONE: 540-458-8717

MAILING ADDRESS: Washington and Lee University

Office of Financial Aid 204 West Washington Street Lexington, VA 24450

CAMPUS MAP: go.wlu.edu/FA-location