Affording College

Providing for postsecondary education is often among a family’s largest investments.

Wake Forest meets 100% of the demonstrated financial need of eligible undergraduate students, with grants, scholarships, work-study, and subsidized loans.

See the FAQ section below and contact us with any questions. We are happy to assist!

Federal Student Aid Programs

You may apply for Federal Student Aid programs by completing the Free Application for Federal Student Aid (FAFSA)®.

Federal Pell Grant

Pell Grants assist undergraduate students within the lowest range of FAFSA® Student Aid Index (SAI) results.

Federal Supplemental Educational Opportunity Grant (FSEOG)

FSEOGs assist undergraduate students within the lowest range of FAFSA® Student Aid Index (SAI) results.

Federal Direct Loans

For undergraduate students, the Federal Direct Loan interest rate is 6.53% for loans disbursed after July 1, 2024. A 1.057% origination fee is deducted for loans with a first disbursement occurring before October 1, 2025. Federal Student Aid Interest Rates and Fees provides the latest available interest rates and fees.

Annual borrowing maximums are based on credit hours earned: $5,500 (0-24.9 hours), $6,500 (25-54.9 hours), $7,500 (55 or more hours). Of these amounts, a portion (up to $3,500 (0-24.9 hours), $4,500 (25-54.9 hours), $5,500 (55 or more hours)) may be Subsidized (no interest accrues, and no repayment required while enrolled), based on FAFSA® results of eligibility for need-based aid programs. Interest on an Unsubsidized loan is charged from the time the loan is disbursed until it is paid in full, and repayment begins while enrolled.

An undergraduate student whose parent cannot borrow a Federal PLUS Loan for credit reasons, may borrow additional Federal Direct Unsubsidized Loan amounts (up to $4,000 for students with credit hours earned less than 55, and up to $5,000 for other students).

Federal Work-Study

Undergraduate students with federal need may be eligible to earn up to $2,000 per academic year in either on-campus or off-campus employment. Wages vary by employer. Placements are made on a first-come, first-served basis. Earnings are paid directly to students biweekly as work is performed, and therefore offered amounts cannot be subtracted from semester charges.

Federal TEACH Grant

Teacher Education Assistance for College and Higher Education (TEACH) Grants require recipients to agree to complete a teaching service obligation as a condition for receiving the grant, and require repayment with interest if the recipient does not complete the service obligation. Wake Forest students at both the bachelor’s and master’s degree level who are pursuing education licensure for secondary school teaching of high-need fields in mathematics, biology, chemistry, physics, or comprehensive science, should contact Student Financial Aid for additional information and counseling.

Other Financial Programs

In addition to need-based aid, there are other financial programs available to assist parents and students in meeting educational expenses.

Federal Parent (PLUS) Loans

Federal PLUS Loans allow creditworthy parents of dependent undergraduate students to borrow up to the cost of attendance minus any other financial aid received. These loans are based a borrower’s credit history rather than financial need. There is a fixed interest rate of 9.08% for loans disbursed between July 1, 2024, and June 30, 2025. A 4.228% origination fee is deducted for loans with a first disbursement occurring between October 1, 2021 and September 30, 2025. Repayment begins 60 days after final disbursement of the loan.

Supplemental Loans

Many private lenders offer student and parent loans to qualified borrowers. Families are encouraged to carefully review and consider the terms of any private loans prior to applying.

External Scholarships

Many local, regional, and national organizations sponsor scholarship programs and competitions. Check with your high school, church, civic groups, service clubs, credit unions, employers, and local businesses. There are many free financial aid scholarship searches on the Internet. Beware of any company that charges a fee for scholarship searches. From our experience, much of the scholarship information provided by these companies is readily available to the public.

Payment Plans

Wake Forest accepts payments through Nelnet Business Solutions, a monthly payment plan for each semester’s charges.

Student Employment Opportunities

For students who are not eligible for Federal Work-Study, the Office of Student Financial Aid maintains a listing of employment opportunities on campus and in the community. Students are also encouraged to earn money for the school year through summer employment.


ROTC scholarships are based on academic and extracurricular achievement and leadership potential. The four-year scholarships are awarded after national high school competition. The three- and two-year scholarships are awarded after national college and university competition.

The Army ROTC Scholarship pays up to full tuition and required fees. The Army may also provide a monthly stipend. Wake Forest University may provide a scholarship to assist with some housing and/or meal expenses.

To Apply

Interested students should write to:

Department of Military Science
Box 7599, Reynolda Station
Winston-Salem, NC 27109-7599

Veterans Education Benefits

The U.S. Department of Veterans Affairs (VA) has approved Wake Forest University as an eligible institution at which students may use its Education Benefit Programs.

Wake Forest participates in the Yellow Ribbon Program. Students eligible for the Post 9/11 GI Bill® at the 100% benefit level qualify for Yellow Ribbon. No separate application is required. Active duty service members and their spouses using transferred benefits became eligible for Yellow Ribbon on August 1, 2022.

To get started, you must apply for benefits on the VA’s website. Once the VA makes a decision, it will mail your Certificate of Eligibility (COE) letter to you. Upon receipt, please email a copy of your COE to the VA Certifying Official, Courtney Cavanah (


Types of Aid

Academic Eligibility

Financial Aid Applications

Financial aid applications become available October 1. Do not wait until after admittance to apply for financial aid.


Please reach out! We are happy to assist you!

Contact Info (Undergraduate)

For additional contact information, visit our Contact page.