In 2022, tuition for full-time students at Wake Forest University was $62,128 a year.
Tuition increased 5.83% in 2022–from $58,708 the prior year. On average, college tuition rises about 3% year.
Remember, the total cost of tuition isn't necessarily what you will have to pay to attend a school. Many students pay way less than the total tuition after grants, scholarships, and tuition discounts are awarded. And, student loans can make theactual cost of attending college more manageable until after graduation.
Wake Forest University is a private, nonprofit institution, which means it has the same tuition for students from North Carolina as it does for residents from other states.
Public colleges and universities receive funding from the state government. Public insitutions often offer reduced tuition for students who are residents of that state.
Choosing an insitution where you qualify for the reduced tuition offered to state residentscan drastically reduce the overall cost of college. Be sure to confirm your state's eligibility criteria for in-state residency. Each state has different requirements to qualify as in-state resident. Most states require students to have resided in the state for a certain period of time before qualifying. There may be additional requirements too, depending on the state you and your parents currently reside in.
Explore other North Carolina colleges
Tuition at Wake Forest is the same for every student.
International students are not eligible for federal financial aid, but may qualify for private or school-specific aid and scholarships.
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.
Room and board at Wake Forest costs $16,652 a year. This number includes the cost of living in dorms or other on-campus housing, plus a dining plan that allows you to eat in the school dining halls. Students who live off campus but would like to be able to eat in the campus dining can opt-in for a meal plan. The cost of a mean plan, or board-only, is $10,448.
Meal-plan costs can depend on how many meals are included in the plan you choose.
The cost of books often surprises first-year college students. The real cost of books depends on the courses you take and the materials required. To save money, many students choose to use books from the library or buy books from students who have already taken the course.
Most schools also have fees to offsets cost associated with maintaining facilties, like the computer labs and libraries, athletic facilities, and more.
There may be additional fees associated with participating in special activities, like joining a fraternity or sorority, or participating in sports or other extracurriculars. Most colleges have ways so that those with demonstrated need to find ways to lower or eliminate these fees.
The cost of transportation in college depends on a few key factors. Will you drive, fly, or take public transportation to school? Is on-campus parking free, or will you need to budget for parking? Is the campus small enough that you can easily walk from class-to-class?? Do you plan to bring a car or are you planning to use busses, subways, or other modes of transportation? All of these questions 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 also have a big effect on 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, getting around in a city may be pricey, but cities may offer more buses, trains or affordable flights to actually get to school. The Wake Forest University campus is in a suburban setting in North Carolina.
When you're planning for college, be sure to take into account the cost of things like entertainment, clothes, furnishings and toiletries.
Now, let’s look at the breakdown of all expenses, to get a better idea of what is really costs to go to Wake Forest.
What will the cost of attending Wake Forest be? Here is a breakdown of tuition and expenses.
|2022 Total Tuition and Expenses|
|Room and Board||$16,652|
The total estimated cost will vary depending on whether you are going to live on-campus or off-campus.
|Total Estimated Costs|
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.
In 2022, 1,434 of the 5,472 undergrads enrolled received financial aid. Wake Forest meets 98% of the demonstrated financial need for undergraduates.
The average financial aid package for a full-time, first-year student is around $55,478 a year. Around 26.37% of Wake Forest undergrads take out student loans to cover any remaining costs. Wake Forest graduates who have student loans graduate with an average of $36,609 of student loan debt.
The average debt for each loan type varies.
|Average Debt By Loan Type|
|Wake Forest-Specific Loans||$3,956|
|Most Common Loans for Wake Forest Students|
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 financial aid, keep reading, or visit their financial aid website.
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 2022, Wake Forest awarded 1,352 need-based scholarships to students, giving away total of $70 million to help students with financial need cover the cost of school. An additional $10.36 million in merit-based scholarship money was awarded to students without demonstrated financial need.
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 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 was $55,478 in 2022. By substracting the average financial aid package from the estimated costs, we get a number that may make the cost of Wake Forest seem more manageable.
|Estimated Net Cost for Full-Time Students|
What will attending Wake Forest 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 make more informed decisions about the actual cost of attending that school, based on their financial situation. You can find the Wake Forest's net cost calculator on their website.
Some students choose to use payment plans to make the cost of tuition fit more comfortably in their budget.
Wake Forest offers an Installment Payment Plan, which allows students to pay tuition in a series of smaller chunks instead of one lump sum.
Schools sometimes offer tuition waivers to certain groups, to reduce the total cost of attendance. Some colleges offer tuition waivers for faculty, staff, and their families , underrepresented students, or military students. Even if you qualify for a waiver, students are usually responsible for housing, meal plans, and other expenses.
Wake Forest has some full or partial tuition waivers available for: - Employees or Children of Employees
Check the financial aid website for more information on payment plans and tuition waivers.
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Data Source: IPEDs and Peterson's Databases © 2022 Peterson's LLC All rights reserved
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