<p>I am a W&L parent; many of the above comments are correct. What everyone on CC has to understand is that the vast majority of parents looking to send kids to college do not know about CSS, FAFSA, EFC, etc. CC contributors are the “top 1%ers of the ins and outs of college admission.” Now imagine that every high school college counselor and a bunch of parents get an email with a subject: FREE tuition for admitted students with income of less tha $75K. The perception to those counselors (and parents) has been that W&L is a good school for rich kids - I won’t even think about it. Because of this announcement some really high achieving kids that would never have considered the school apply, get admitted and attend. This helps the school achieve its goal of trying to attract a more diverse student body. I give credit to the school for being creative.</p>
<p>Also, one minor point. The announcement does not mention assets - so I assume that some people who are a little asset heavy but income light will benefit from this. Here are the details from the W&L website:</p>
<p>[Washington</a> and Lee Unveils New Financial Aid Initiative :: News :: Washington and Lee University](<a href=“http://news.blogs.wlu.edu/2013/10/14/washington-and-lee-unveils-new-financial-aid-initiative/]Washington”>http://news.blogs.wlu.edu/2013/10/14/washington-and-lee-unveils-new-financial-aid-initiative/)</p>