The Student Financial Aid Office disburses institutional and federal funds directly to Student Financial Services at least weekly. Funds are credited to student accounts electronically. Student records must be complete, enrollment status must be correct, and awards must be accepted before funds will disburse to student accounts. Loan funds are applied to student accounts weekly by electronic fund transfer. If a student chooses a nonelectronic lender, loan funds are applied to their account as soon as the loan check arrives at the Student Financial Aid Office. Paper checks may require the endorsement of the student.
Students must authorize direct deposit (on WIN) or complete a Refund Request Form from Student Financial Services, before any remaining financial aid is paid directly to them.
Wake Forest University is committed to providing students whose applications and awards are completed prior to the opening of school with credit balances from federal financial aid. If you receive a Pell Grant, which when added to your other financial aid, exceeds your University charges, we will provide you with the means to purchase books within seven days of the first day of the semester. This can be either in the form of a student refund or credit on your Deacon One Card. Please contact Student Financial Services, if your financial aid award is complete, and you have concerns about the ability to purchase books. If your financial aid award is not complete, please contact the Financial Aid Office.
FEDERAL DIRECT LOANS & PLUS LOANS
Interest rates for loans disbursed between July 1, 2017, and June 30, 2018:
Undergraduate loans: 4.45%
Graduate loans: 6.00%
Parent loans: 7.00%
FEDERAL PERKINS LOANS (This program will not be available after 2017-18.)
The fixed interest rate for Federal Perkins Loans is 5%.
WAKE FOREST UNIVERSITY NON-FEDERAL INSTITUTIONAL LOANS
The fixed interest rate for WFU Loans is 5%.