Understanding Wake Forest University Tuition and Fees

Deciding on a university is a significant investment, and understanding the costs involved is crucial. This article provides a comprehensive overview of tuition, fees, and financial aid opportunities at Wake Forest University. Wake Forest University's tuition is $70,332, and the total cost is $94,020.

Tuition and Fees: The Sticker Price

Wake Forest University's tuition is $70,332. This figure includes both tuition and fees, often referred to as the "sticker price." Compared to the national average cost of tuition of $47,097, Wake Forest University is more expensive. Fees may cover library services, student gym facilities, student centers, technology resources, and campus health centers.

Total Cost of Attendance

As you’re comparing costs of different institutions, also consider the total cost and the net price. The total cost is the sticker price, plus the cost of food and housing, books and supplies, and transportation and personal expenses. At Wake Forest University, the total cost is $94,020.

Estimated Additional Expenses (2025-2026)

Below is the 2025-2026 estimated tuition and fees based on 9-month figures for fall and spring semesters. Please note that tuition and fees are reviewed annually and are subject to change.

Expense	1L, 2L, LLM, SJD	3L
Books and Supplies	$1,600	$1,600
Housing	$15,750	$15,750
Food	$4,950	$4,950
Personal Expenses	$3,600	$3,600
Transportation	$3,135	$3,135
Average Loan Fees - UN	$204	$204
Average Loan Fees - GP	$1,400	$1,400
Average Costs Related to Bar Application	-	$1,160
Total Estimated Additional Expenses	$30,639	$31,799

*Dependent care expenses incurred by the student can be added to the cost of attendance on an individual basis.

Net Price: What You Actually Pay

The net price you pay for a particular college is specific to you because it’s based on your personal circumstances and the college’s financial aid policies. Use the college’s Net Price calculator for the most accurate estimate of your net price. Average Net Price is $27,790 per year. Your net price is a college’s cost of attendance minus the grants and scholarships you receive.

Financial Aid: Making Wake Forest Affordable

The committed professionals in the Office of Student Financial Aid are charged with making Wake Forest within your financial reach. Financial aid can include grants, loans, scholarships and work-study jobs. Financial aid packages vary depending on your financial need. Most colleges determine financial need based on your FAFSA.

Types of Financial Aid

Grants and Scholarships: Scholarships are a type of funding that you don’t need to pay back. Need-based scholarships take a student’s financial status into account. Merit-based scholarships are awarded to students for academic or athletic achievement. You might also qualify for a scholarship based on your community service involvement, unique hobbies or traits, your personal background, or a parent’s employer or military affiliation. At Wake Forest University, the average need-based scholarship or grant awarded to first-year students was $66,913. The average non-need-based scholarship or grant awarded to first-year students at Wake Forest University - excluding any athletic scholarships, if applicable - was $22,826.
Loans: Loans must be paid back. At Wake Forest University, the median federal loan debt among borrowers who completed their undergraduate degree is $21,500. The median monthly federal loan payment (if it were repaid over 10 years at 5.05% interest) for student federal loan borrowers who graduated is $228.
Work-Study: Schools offer work-study programs to those who qualify and campus jobs to students looking to earn money in their free time.

Financial Aid Statistics

Wake Forest University met 97% of its students’ financial aid need.
19% of first-year students received need-based financial aid in fall 2023.
The average need-based self-help aid awarded to first-year students was $4,363.

Financial Aid for Medical School

Medical school is a major investment, and we understand that you may have questions and concerns about financing it. The Cost of Attendance is derived based on living expenses in the Winston-Salem area and information from student surveys. The amount provided each year allows a Wake Forest University School of Medicine student to live comfortably alone, not luxuriously. It is not required that you accept the full Cost of Attendance each year. The amount you accept is flexible. This scholarship is based on demonstrated financial need. Therefore, you must complete the need-based scholarship application to be considered. The scholarship application consists of submissions of both the FAFSA and the CSS Profile.

Understanding Need-Based Aid

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. For students with an annual family income less than $100,000, financial aid will cover the cost of standard living expenses in addition to the full cost of tuition. 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®. 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. 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.

Student Loan Debt

How much student loan debt you accumulate can affect your financial life long after college ends. Ideally, your total student loan debt should fall below your anticipated starting salary once you graduate.

Read also: Understanding Wake Forest Costs

Debt Statistics

At Wake Forest University, the median federal loan debt among borrowers who completed their undergraduate degree is $21,500.
The median monthly federal loan payment (if it were repaid over 10 years at 5.05% interest) for student federal loan borrowers who graduated is $228.
Additionally, 4% of graduating students at Wake Forest University took out private loans. Students with private loans had an average of $85,033 in private loan debt at graduation.
Average Total Indebtedness of 2024 Graduating Class: $33,453
Graduating students who have borrowed (any loan type, 2024): 22%

Additional Expenses and Considerations

Housing and Meal Plans

All resident students are required to sign up for a meal plan. Choose the plan that best fits your lifestyle and the minimum plan for your housing type. To select your plan, first, log in to the Housing Portal. All students, regardless of class year, can change (increase or decrease) their meal plan for the fall semester through August 1, adhering to area and class year minimums. Plan decreases for the fall semester are not allowed after August 1; however, plan increases will be accepted through September 30, adhering to area and class year minimums. In addition to a meal plan, students may also purchase Deacon Dollars. The Deacon Dollar account is a debit account system on the student ID card that allows purchases throughout campus. Following the first year of required residency, SJD students will register for six (6) credit hours of Supervised Dissertation during each semester until the dissertation is completed and the degree is awarded. During this period, the student will be charged a discounted tuition rate.

Enrollment Deposit

To secure their seats in next year's class, students are required to submit an enrollment deposit of $1,500. All enrollment deposits must be submitted via the Admissions portal to the Office of Undergraduate Admissions by May 1st and are nonrefundable.

Music Fees

Individual instruction music fees are required in addition to tuition for students enrolling for individual study in applied music in the Department of Music and are billed to the student account by Student Financial Services.

Health Insurance

Wake Forest University requires health insurance for all full-time, degree-seeking students. Students who demonstrate coverage that meets our criteria may waive the insurance provided by WFU. Students may apply for a waiver or enroll online beginning July 1st - September 15th. The 2025-2026 Health Insurance Premium is $2,842 ($1,421 per semester). Students enrolled in the health insurance plan may continue coverage for a maximum of one year while on medical continuous enrollment status approved by the University. Students must intend to return and remain a degree-seeking candidate and remit appropriate premiums.

Wellness Fee

Law students are assessed a Wellness Fee and have the option to waive the fee each semester. To access the waiver, log into Workday. Enter “Create Request” in the search bar.

Read also: Wake Forest Student Body

Important Notes

Charges are due in full on August 1 for the fall semester and December 1 for the spring semester.
All students will be required to acknowledge the “Wake Forest University- Statement of Financial Responsibility” as part of the new and continuing onboarding process via Workday Student; this allows students to clearly understand financial policies.
Students should expect an increase yearly in tuition.
Statements concerning expenses are not to be regarded as forming an irrevocable contract between the student and the University.
Direct charges are established by the Board of Trustees each spring preceding the fall semester start of the academic year.
This estimate of average total costs is used to determine eligibility for financial aid programs. Students should contact Student Financial Aid if they incur expenses for dependent care, a disability, or if they are enrolled in a program that requires obtaining a license, certification, or a first professional credential.
Amounts other than tuition and fees are estimated averages. Semester billing statements reflect actual charges, which may be for amounts greater or less than the averages.
This estimate of costs does not include health insurance. Students who are not adequately covered by their parents’ health insurance policy are required to purchase health insurance.

Resources and Support

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. The numbers can be daunting, but they are not disqualifying. Please reach out to Student Financial Aid for any questions.

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