I am an alumnus and long ago became disenchanted with W&L's preoccupation with fund raising. In my mind, the standards of the school have slipped, while their expertise in raising money has grown. The majority of the correspondence I receive is about how well the school is doing financially, and who gave the most. From my personal experience, the character of its graduates does not match up with the qualities it used to endow in its students.
Review from CharityNavigator