Wake Forest University

In 2022, tuition for full-time students at Wake Forest was $63,608 a year.

In 2023, tuition increased 2.38%–from $62,128 the prior year. On average, college tuition goes up about 3% every year.

Remember, the total cost of tuition isn't necessarily what you will have to pay to attend a school. Many students pay a lot less than the sticker price after grants, scholarships, and tuition discounts are applied. And, student loans can make theprice of collegefeel more doable until you've finishing school and found a job.

Wake Forest University meets 100% of the demonstrated financial need for undergraduates. The average financial aid package for a full-time, first-year student at Wake Forest University is around $60,695 a year.

Graduates in the class of 2023 had an average of $31,476 in student loans per borrower.

In-state vs. Out-of-state Tuition at Wake Forest University

Wake Forest University is a private, nonprofit institution, so it has the same tuition for residents of North Carolina as it does for residents from other states.

Public colleges and universities receive funding from the state government. These institutions offer a lower cost of attendance for students who are residents of that state.

Attending a school where you qualify for in-state tuition can save significant money on the total cost of attending college. Don't forget to verify your state's requirements for as an in-state resident. Every state has its own rules about what makes someone eligible for in-state tuition. In many states, students must have lived in the state for 12 months before starting school to qualify for in-state tuition. There may be other criteria too, depending on where you live.

Explore other North Carolina colleges

Is Wake Forest University's Tuition Different for International Students?

Tuition at Wake Forest University is the same for all students.

Students from outside of the U.S. usually do not qualify for for loans or grants from the U.S. government, but should research private or Wake Forest University-specific aid and scholarships.

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Wake Forest University Living Expenses, Fees, and More

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Tuition is not the only cost of attending college; room and board, books, transportation and fees are also costs it consider when planning for college. Let's take a look at what impacts these costs, and what to expect at Wake Forest University.

House and Food Costs at Wake Forest University

Room and board at Wake Forest University costs $17,848 a year. This number covers the cost of living in dorms or other on-campus housing, and a meal plan that enables you to eat in the school dining halls.

Meal-plan costs can depend on how many meals are included in the plan you choose.

How Much Do Books Cost at Wake Forest University?

The cost of books often surprises first-year college students. The actual cost of books depends on the courses you take and what kinds of books and materials they require. To save money, many students choose to use books from the library or buy used textbooks and materials.

Annual Fees

The majority of colleges charge some yearly fees to offsets cost associated with maintaining facilties, like the computer labs and libraries, athletic facilities, and more.

Keep in mind, there could also be other costs associated with participating in special activities, like joining a fraternity or sorority, or playing on an intramural sports team. Most colleges offer ways for students who may struggle to participate because of cost can get help covering these fees.

The Cost of Transportation at Wake Forest University

The cost of transportation in college depends on a few key factors. Will you take a subway, car or an airplane to get to school? Will you need to pay to park on-campus? Is the campus easy to get around on foot? Do you own a car, or are you planning to use busses, subways, or other modes of transportation? All of these factors can drastically impact your transportation budget. Keeping in mind, first-year students are allowed to park a car on campus.

A school's location can impact the amount you'll have to spend just to get around. Small, rural schools may be easier to get around, but the cost of getting to campus may be higher. On the flip side, transportation in an urban area can be pricey, but there may be more buses, trains or affordable flights to actually get to school. Wake Forest Universityis located in a suburb in North Carolina.

Other Costs

When budgeting for college, be sure to take into account personal expenses, like entertainment, clothes, furnishings and toiletries.

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The Full Cost of Attending Wake Forest University

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Now, let’s look at the breakdown of all expenses, to get a better estimate of the actual cost of attending Wake Forest University.

How Much Does Wake Forest University Cost?

What will the cost of attending Wake Forest University be? Here is a breakdown of tuition and expenses.

2023 Total Tuition and Expenses
Tuition	$63,608
Room and Board	$17,848
Other expenses	$1,770

The total estimated cost will vary depending on whether you are going to live on-campus or off-campus.

Total Estimated Costs
On-Campus	$86,006
Off-Campus	$66,388

The breakdowns above provide a good estimate of the total cost of attendance before financial aid and scholarships. Tuition and fees may vary depending on program, course level, location, and more.

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Financial Aid at Wake Forest University

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In 2023, 1,367 of the 5,494 undergrads enrolled received financial aid. Wake Forest University meets 100% of the demonstrated financial need for undergraduates.

The average financial aid package for a full-time, first-year student is around $60,695 a year. Around 25% of Wake Forest University undergrads take out student loans to cover any remaining costs. Wake Forest University graduates who have student loans graduate with an average of $31,476 of student loan debt.

The average debt for each loan type varies.

Average Debt By Loan Type
Federal Loans	$19,418
Wake Forest University-Specific Loans	$3,631
Private Loans	$63,679

Most Common Loans for Wake Forest University Students
Federal Loans	23%
Institutional Loans	1%
Private loans	5%

Most students take out institutional or government loans, because they tend to have lower interest rates and more flexible repayment options than private loans. Loans from the federal government can be subsidized or unsubsidized. Subsidized loans do not accrue interest during school, while unsubsidized loans begin accruing interest at the time the loan is issued. If students do no qualify for enough federal loans to cover the cost of tuition, some take out private loans. Parents can also take out ParentPLUS loans, which are government loans for parents who are helping their children pay for college.

The Free Application for Federal Student Aid (FAFSA) helps colleges determine how much financial need students and their familes have, so they can offer a financial aid package that meets, or come close to meeting, their need. For more information on Wake Forest University financial aid, keep reading, or visit their financial aid website.

Scholarships at Wake Forest University

Some students may receive grants and scholarships to help pay for college. Unlike loans, scholarships and grants do not have to be paid back.

In 2023, Wake Forest University awarded 1,215 need-based scholarships to students, giving away total of $72.1 million to help students with financial need cover the cost of school. An additional $11.85 million in merit-based scholarship money was awarded to students without demonstrated financial need.

Wake Forest University Net Cost

The net price of college is the actual cost of attending a school for one year. Net cost is calculated by subtracting any scholarships, grants or other aid that does not need to be paid back from the total cost. Student loans are not part of the calculation, because they need to be repaid.

Now that we have a sense of the total estimated costs for Wake Forest University students, we can subtract the average financial aid package to find the estimated net cost. Net cost can vary depending on a students’ need and the financial aid award received.

When considering whether a school fits your budget, it is important to consider the estimated net cost, not just the sticker price of tuition. Often, schools with the highest tuition also offer the most generous aid packages, so estimate your net cost before eliminating a school because it does fit your budget.

The average amount of financial aid received by a full-time first year student with demonstrated need at Wake Forest University was $60,695 in 2023. By substracting the average financial aid package from the estimated costs, we get a number that may make the cost of Wake Forest University seem more manageable.

Estimated Net Cost for Full-Time Students
On-Campus	$25,311
Off-Campus	$5,693

What will attending Wake Forest University really cost you? The answer depends on several factors.

As of 2011, colleges are required to have a net price calculator on their website to help prospective students and their families understand the actual cost of attending that school, based on their financial situation. You can find the Wake Forest University's net cost calculator on their website.

Wake Forest University Tuition Payment Plans

Some students choose to use payment plans to make the cost of tuition fit more comfortably in their budget.

Students cannot pay tuition in installments. Contact the financial aid office to verify this and discuss options.

Wake Forest Tuition Waivers

Schools sometimes offer tuition waivers to certain groups, to make attending more affordable. Some schools offer tuition waivers for faculty, staff, and their families , underrepresented students, or military students. Even with a tuition waiver, students are usually responsible for housing, meal plans, and other expenses.

Check the financial aid website for more information on payment plans and tuition waivers.

Wake Forest University's Endowment

An endowment is the total value of a school's investments, donations, and assets. Endowment is not necessarily an indicator of the quality of a school, but it can give you a sense of how much money a college can afford to invest in expanding programs, improving facilities, and supporting students.

For more information about Wake Forest University's endowment, check with the school directly.

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Learn More About Wake Forest University

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