Affordability
Investing in yourself and your future
Research supports the idea that having a college degree can put you on a better career path and significantly boost your income throughout life.
Affording a Wake Forest Education
The numbers can be daunting, but they are not disqualifying. We want a Wake Forest education to be affordable and accessible for families at all income levels.
The committed professionals in the Office of Student Financial Aid are charged with making Wake Forest within your financial reach. With a combination of loans, grants, work-study and other sources, the mission is possible.
For additional information about financial aid and affordability, refer to our Student Financial Aid website. If you have any questions, our financial aid team will be happy to assist you!
More in this section
By the Numbers
100%
Amount of demonstrated financial need for eligible students Wake Forest meets
200+
How many scholarship funds benefiting undergraduates have been created or substantially enhanced since 2021
119%
The average percentage that need-based aid scholarship has grown since 2013
63%
How much the average need-based debt burden has decreased from the Class of 2014 to the Class of 2023
How much does Wake Forest cost?
Costs for an upcoming school year are determined and approved by the Wake Forest Board of Trustees in the spring, prior to the start of the school year. All costs for an upcoming school year are estimates and subject to change prior to this approval.
$94,600
Estimated cost of attendance for the 2025-26 academic year
which includes all of this
$70,332
Tuition & Fees
$12,054
Housing
$7,000
Food
$1,718
Books & Supplies
$3,496
Other Expenses*
How are these costs determined?
The figures shown here, based on a student living on or off campus for the 2025-26 academic year, are an estimate of average total costs and are used to determine eligibility for need-based financial aid.
For more information on costs, please visit the Undergraduate Cost of Attendance page on the student financial aid website.
Net Price Calculator
Use our Net Price Calculator to estimate your net cost (estimated costs, minus grants and scholarships).
* Other Expenses
Additional fees and expenses that may affect your overall cost of attendance include:
- Personal expenses
- Transportation
- Fed Direct Loan Avg. Fee
- New Student Orientation Fee
That’s a lot of money—can I afford that?
Let’s talk about financial aid.
Like almost half of all undergraduate students at Wake Forest receiving financial assistance in the form of loans, grants or both, you have options. We’re here to help you explore them.
Types of Aid
Need-based grants and scholarships are based upon the income and asset data provided by the family in federal (FAFSA®) and institutional (Profile®) aid applications. Merit-based scholarships are offered on the basis of academic performance, artistic or athletic talent, or other contributions the student may demonstrate.
Determining Need
Most financial aid at Wake Forest is based on a family’s demonstrated financial need. Except in the most extraordinary circumstances, Wake Forest considers undergraduate students to be dependent on their parents. Below, please learn more about determining need and how the Office of Student Financial Aid may assist you.
Applying for Need-Based Aid
Make sure to visit the Applying for Need-Based Aid page on the Student Financial Aid website for additional details and instructions on how to apply for financial aid.
October 1
Financial Aid Applications
This is when financial aid applications (i.e. FAFSA, CSS Profile) become available to families. Visit the financial aid website for additional information.
November 15
Early Decision I
Early Action
If you plan on applying either Early Decision I or Early Action (First Generation), make sure you apply for need-based aid no later than November 15.
January 1
Early Decision II
Regular Decision
If you plan on applying either Early Decision II or Regular Decision, make sure you apply for need-based aid no later than January 1.
How will I repay my student loans?
Wake Forest grads are successful.
The Office of Personal and Career Development (OPCD) is a big reason why 97% of Wake Forest graduates have secured employment or enrolled in graduate programs within six months of graduation. Additionally, we’re one of very few top national universities to offer five college-to-career courses for credit.
The OPCD developed Ready7, a step-by-step process that gives students a clear set of accomplishable actions to be prepared, confident, and ready for career and life.
As a result, Wake grads are able to pay back their loans.
Commonly Asked Questions
How is financial aid determined?
The basic premise of financial aid is that the primary responsibility for meeting college costs rests with the student and his or her parents, to the extent they are able to pay. The difference between the cost of attendance at the institution and the calculated ability of a family to meet this cost is defined as a student’s “demonstrated financial need.” A family’s ability to meet the cost of attendance is determined from an in-depth assessment of the information reported on the CSS Profile® and FAFSA®. Financial need is determined according to a set of standards and principles developed by the College Board and a consistent analysis of financial aid application data.
Where do I obtain the FAFSA® and CSS Profile® applications?
The FAFSA® application is available at http://www.fafsa.gov. The FAFSA® school code for Wake Forest is 002978.
The CSS Profile® application may be accessed on the CSS Profile website. The CSS Profile® school code for Wake Forest is 5885.
Will I have the same financial aid eligibility for all four years?
The total dollar amount of financial aid eligibility is based on financial need. Any change in family circumstances, such as an increase or decrease in parents’ or student’s income, assets, family size, or number of family members attending college, may affect eligibility for financial aid. If the family’s circumstances do not change significantly over four years, the financial aid package should be comparable each year.
Will I know about financial aid at the time I’m admitted to the university?
Wake Forest is committed to using the Principles & Standards of the College Cost Transparency Initiative in its aid notifications.
Early Decision I and Early Action Admission applicants who complete their financial aid applications by November 15 should receive an aid notification starting December 15.
Early Decision II Admission applicants who complete their financial aid applications by January 1 should receive an aid notification within three weeks of application completion.
Regular Decision Admission applicants who complete their financial aid applications by January 1 should receive an aid notification in early April, approximately three to four weeks before the May 1 enrollment decision date.