Private 4 Year

Wake Forest Tuition & Cost

Winston Salem, North Carolina

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How much does it cost to attend?

Sticker Price

Costs for Wake Forest University
Fee Cost
Books and Supplies$1,500
Other Fees$1,062
Room and Board $16,044
Other Expenses Budget$2,572

Annual Tuition & Costs

The annual tuition to attend Wake Forest University is $58,708. The cost is the same for both in-state and out-of-state students. Room and board fees are an additional $16,044. For educational materials, students should allocate approximately $1,500 for books and supplies plus $1,062 for other fees charged by the school. Finally, students should budget $2,572 for miscellaneous expenses throughout the year. With all these fees considered, the expected total cost to attend Wake Forest University on a full-time basis is $79,886 per annum.

All price data is sourced from the 2021/2022 U.S. Department of Education National Center for Education Statistics survey.

Net Price

The average reported annual net price for Wake Forest University for students receiving grants or scholarship aid was $26,324 in 2019/2020. Net price includes tuition and required fees, books and supplies, and average cost for room and board and other expenses

The net price provides a more realistic estimate of the true cost of attending Wake Forest University, once common grants and scholarships have been taken into account. It's important to note that this net price can fluctuate based on factors such as family income and individual financial need.

Average Net Price 2019/2020

Net Price by Income Wake Forest University
Family Income Net Price Paid
$0 to $30,000$10,401
$30,001 to $48,000$5,612
$48,001 to $75,000$10,228
$75,001 to $110,000$24,718

Financial Aid

38% of full-time undergrad Wake Forest University received financial aid in the form of grants, scholarships, fellowships from the institution or from Federal, State or local government agencies. This aid averaged $47,832 per student during the 2019/2020 school year. Grant and scholarship aid does not need to be paid back. 17% of students received Federal Student Loans averaging $5,042 and 4% of undergrads took out private student loans averaging $34,976.

Finanical Aid Wake Forest University
Type Avg./Student Students Receiving
Total Grant and Scholarship Aid $47,832 38%
Institutional Grants and Scholarships $45,885 34%
Pell Grants $4,916 8%
Other Federal Grants $1,782 8%
State and Local Grants $5,484 4%
Federal Student Loans $5,042 17%
Other Student Loans $34,976 4%

Student Loans

To gauge a more realistic picture of what it may really cost you out of pocket to go to Wake Forest University, we've modeled a ten year student loan with an original principal value of $124,740. The loan balance of $124,740 is a four year multiple of the $31,185 average net price. This is a estimate of what you could owe upon graduation if you were to qualify for average financial aid and what a degree really may cost. Should you not qualify for financial aid, you may owe significantly more when you graduate. Based on these assumptions, a monthly repayment of $1,322 could be required to satisfy your student loan.

Please note that financial aid is not guaranteed and is only available for qualifying students. Federal Student Loans are not grants and must be repaid with interest. The current Stafford loan interest rate is 4.99%.

Example Loan $124,740
Stafford Loan Interest Rate 4.99%
Time to Pay Off Student Loan 10 years
Example Monthly Payment $1,322.45
Total Interest Paid $33,954.19
Sum of All Loan Payments $158,694.19

Projected 4 Year Degree Price

4 Year Sticker Price

Year All Residents
1 $79,886
2 $83,151
3 $86,550
4 $90,087

Based on published tuition prices, we estimate the current cost of a 4 year bachelor's degree and living expenses at Wake Forest University to be $319,544 - assuming graduation in normal time. The estimation assumes a 4.1% annual increase over the next 4 years which has been the recent trend for this school.

Credit Hour Cost and Price per Class

Credit Hour and Class Costs at Wake Forest University
Price Per Credit 3 Credit Class 4 Credit Class
All Residents $2,434 $7,302 $9,736

Estimated cost for a class at Wake Forest University based on published credit hour prices. Note that not all schools allow single class enrollment. These prices should be used for comparison purposes as to how much it may cost to take a class at Wake Forest University versus other colleges.

Tuition Payment Plans Available

Wake Forest University Payment Plans
Tuition Payment Plan Yes
Prepaid Tuition Plan Yes
Alternative Tuition Plan Yes
Guaranteed Tuition Plan No

Costs for Similar Colleges 

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Primary data source, U.S. Department of Education https://nces.ed.gov/collegenavigator/?id=199847 IPEDS survey data for Wake Forest University.