How many semesters of financial aid can I receive?
Undergraduate students may receive institutional aid through their eighth semester (prorated for transfer students). However, they may receive federal aid beyond their eighth semester.
If I drop to part-time status, will this affect my financial aid?
Full-time enrollment for undergraduate financial aid purposes requires a minimum of twelve hours. Full-time enrollment is required to receive institutional aid. An undergraduate student may not register for fewer than twelve hours without specific permission from the appropriate dean to register as a part-time student.
Institutional aid is not awarded beyond the eighth (fall or spring) semester of enrollment; this limit is prorated for transfer students. Part-time semesters count fully toward this eight-semester limit.
Students enrolled part-time may qualify for some federal, state, and/or private aid programs. Since federal aid is determined on an academic year basis, a student’s part-time spring semester enrollment could potentially also reduce aid eligibility for the previous fall semester.
Enrollment in fewer than six hours triggers earlier loan repayment period start dates than would otherwise be the case.
Enrollment in fewer than twelve hours may void a student’s health insurance; students should seek advice from their health insurance carrier before enrolling less-than-full-time.
If a student is in their final semester of enrollment and does not need to be enrolled full time to graduate, a student may be able to receive a prorated institutional need-based financial aid award if funds are available.
Students receiving financial aid who are considering enrolling part-time should seek advice from a staff member in the Office of Student Financial Aid.
Do I have to maintain a certain grade point average to be eligible for financial aid?
Students are expected to maintain a minimum grade point average based on attempted course hours. Students should refer to the Undergraduate Bulletin or the policy section of the financial aid web site for further details.
Is financial aid available to cover the cost of summer school?
Institutional scholarship aid is not awarded for summer session classes. Students with remaining Pell Grant or federal loan eligibility may receive these funds for summer enrollment. Limited Work-Study jobs are also available. A separate Application for Summer Financial Aid is required and should be submitted to the Office of Student Financial Aid by mid-April. Parent loans and private alternative student loans are the major forms of aid for summer enrollment. Private alternative student loans must be pre-approved by the lender before being certified by the Office of Student Financial Aid.
If I take a semester off during the school year, is my aid transferable to summer sessions?
Institutional funds are not transferable to summer sessions, but a student may be eligible to receive any unused federal funds. All students applying for summer financial aid must complete the Application for Summer Financial Aid by mid-April.
Is financial aid available to cover study abroad options?
Students who receive need-based aid and are interested in studying abroad should carefully review the university’s study abroad policies. In general, students who enroll in one of Wake Forest’s study abroad programs are awarded aid in the same manner as for a semester on the Reynolda campus. There is, however, no additional need-based scholarship funding to cover additional costs of a study abroad program, and aid is not available in advance to pay for deposits or airfare. Students with remaining federal loan eligibility are able to apply for loans to fund additional costs.
Students who elect to attend approved non-Wake Forest study abroad programs will find their aid packages will differ significantly from aid packages for a semester on the Reynolda campus. Students will have their demonstrated need met first with loans, before any need-based gift aid is awarded. Students should contact both the Office of Student Financial Aid and the Center for International Studies for more details about required procedures. All students interested in studying abroad are encouraged to begin the application process early.