Tuition and Cost to Attend Wake Forest University

Annual Total Cost

The annual total list price cost to go to Wake Forest University was $57,842 for the 2013/2014 academic year. The cost is the same for all students regardless of North Carolina residence status as there is no in-state discount. The breakdown of this total cost is detailed as follows.

Undergraduate Tuition

Tuition for Wake Forest University is $44,200 for the 2013/2014 academic year. This is 81% more expensive than the national average private non-profit four year college tuition of $24,476. Wake Forest University is one of the 100 most expensive colleges in the America, coming in 58th on our Expensive 100 Ranking. The fee is $27,936 and 172% more expensive than the average North Carolina tuition of $16,264 for 4 year colleges. Tuition ranks 75th in North Carolina amongst 4 year colleges for affordability and is the most expensive 4 year college in the state. Price does not vary by residence.

The school charges an additional "other" fee of $542 in addition to tuition bringing the total effective in-state tuition to $44,742.

Housing Costs

On campus room and board is provided by the school at a cost of $12,000 per year. If you elect to live off campus elsewhere in Winston Salem, you should budget at least this amount.

Books and Supplies

The estimated annual cost for books and supplies is $1,100.

Cost Itemization

Costs and Tuition Detail for Wake Forest University
Expenditure Price
North Carolina Resident Total Cost$57,842
Non-Resident Total Cost$57,842
   In-State Tuition$44,200
   Out-of-State Tuition$44,200
   Other Fees$542
   Room and Board$12,000
   Books and Supplies$1,100

All price data are reprinted from the U.S. Department of Education's 2013-2014 and 2012-2013 IPEDS Survey and represent reported costs for the 2013-2014 and 2012-2013 academic years.

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What it Really Costs

Depending on many factors including student and parent income and assets, the total cost of attendance may be less than the $57,842 published price if scholarship or grant aid is made available to you.

Net Price

The net out of pocket price you end up paying or financing though student loans is known as the net price. The reported Wake Forest University net price for in-state students receiving aid was $31,185* for the 2010/2011 academic year.

Pell Grants and other Grant Aid

58% of Wake Forest University students received grant aid in 2010/2011 to help defray the cost of tuition. The average total aid amount was $30,090. 11 percent of students received aid in the form of Pell Grants from the U.S. Federal Government. The average Pell Grant awarded for 2010/2011 was $2,189. To apply for a Pell Grant to attend Wake Forest University, the first step is to fill out the Free Application for Federal Student Aid (FAFSA).

Net Price and Financial Aid for Wake Forest University
Financial Aid Summary
Average Annual Net Price$31,185*
Percent of Students Receiving Grant Aid58%
Average Total Grant Aid$30,090
Percent of Students Receiving Pell Grants11%
Average Amount of Pell Grant Aid$2,189

Average Financial Aid Mix - $57,842 In-State Total Cost

Estimated coverage of the annual in-state tuition and living expenses of $57,842. Breakdown is based on average grant aid and federal loan aid which will vary based on your family income.

30090
6950
20802

 52% - $30,090

Grants and Scholarships

Money granted to you by the U.S. Department of Education or Wake Forest University. These are not loans and do not need to be repaid.

 12% - $6,950

Federal Loans

Low interest student loans funded by the U.S. Department of Education. This amount will need to be repaid.

 36% -  $20,802

Out of Pocket

Covered by family savings, work or private student loans which you will have to repay.

*Reported Average Annual Net Price for students receiving grant or scholarship aid reported to the U.S. Department of Education's 2011-2012 IPEDS Survey. Financial aid is only available to those who qualify. Consult this school's net price calculator for further understanding of your potential net price.

Note that for colleges with no reported on-campus room and board, the average net price has been increased to account for living expenses. This number may not only reflect the net price paid to the school for tuition.


Cost of a Degree

When considering the cost to go to Wake Forest University, the annual cost is often discussed but it's the "all in" multi-year degree cost which matters in the end. Let's take a look at what it could really cost for four years at Wake Forest University.

Estimated 4 Year Cost at Published Tuition

At the current published rates, an estimated total tuition, fees and living expense price for a 4 year bachelor's degree at Wake Forest University is $231,368 for students graduating in normal time. This methodology for estimating the 4 year cost is a straight multiple of the most recent reported annual total cost and does not factor in tuition increases during the time you're in school. It also assumes you receive no grant or scholarship aid and pay the full list price.

A potentially more accurate but less conservative estimate of a degree cost can be made by using the school's annual $31,185 in-state net price as the basis. Applying this cost over 4 would estimate the cost of a degree at $124,740**

If you end up on the "five year plan" and need an additional year to graduate, your five year cost could be as high as $289,210 or $155,925 using an average net price.

**Based on a 4 year multiple of Average Annual Net Price for students receiving grant or scholarship aid reported to the U.S. Department of Education's 2011-2012 IPEDS Survey. Financial aid is only available to those who qualify. Consult this school's net price calculator for further understanding of your potential net price.

Other Costs

Estimated Cost Per Semester

Most colleges don't charge students on an annual basis but instead require payment semester by semester. If you ever need to take an additional semester of classes to complete you degree you shouldn't have to pay for a full academic year. These our estimated costs for a semester at Wake Forest University.

North Carolina Resident Tuition Per Semester$22,100
North Carolina Resident Total Cost Per Semester$28,921

Cost Per Credit Hour and Cost for a Class

Some schools offer the ability to take single classes by paying on a per credit hour basis. The reported price per credit hour and estimated cost for one class at Wake Forest University are as follows. Per credit costs are for reference only as many schools will not allow students to pay by credit hour.

Cost per credit hour and per class at Wake Forest University
Price per credit hour$1,704
Cost for one class (3 credit hours)$5,112
Cost for one class (4 credit hours)$6,816

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Student Loans and Debt

The second consideration after understanding the cost of college is determining how to finance it. Some students are fortunate enough to have some form of family financial assistance, but student loans end up financing a significant portion of higher education in the U.S. 35% of Wake Forest University students receive U.S. Federal Student Loans with an average annual Federal Loan aid amount of $6,950. The reported average student debt upon graduation is $35,902.

Example Loan Payments and Costs

How much are student loan payments for Wake Forest University? Obviously this varies based on a number of factors - offsetting financial aid you receive, percentage of fee you pay upfront while enrolled and the interest rate on your loans. We've modeled a sample student loan based on current Stafford loan rates to give you an approximate idea.

The following are the costs for a loan if you borrowed $124,740, 100% of the estimated average net price for a four year program and paid nothing while enrolled. The total of all payments including interest would sum $156,291.35. This could be your effective total out of pocket cost of an education at Wake Forest University. Note that this calculation assumes you don't pay full list price tuition, are part of the reported 58% of students at this school who receive financial aid and you are paying an average annual net price of $31,185. If you do not financially qualify for a reduced net price, your student loan payments could be significantly higher than this example. Use our Wake Forest University student loan calculator below to change loan assumptions and recalculate.

Student loans are not free money and must be repaid. You cannot dismiss student loans by via bankruptcy.

Wake Forest University Student Loan Payments
Example Payments
Monthly Loan Payment$1,302.43
Amount Borrowed$124,740.00
Interest Rate4.7%
Term10 years
Number of Monthly Payments120
Total Interest Cost$31,551.35
Sum of All Payments over 10 years$156,291.35

Affording Student Loan Payments and Post Graduation Salary

Can I afford to attend Wake Forest University? In the end, the answer comes down a determination if you will earn enough to comfortably pay back a student loan with your post graduation salary. This is an extremely important point to consider. In order to afford student loan payments and still meet all your other costs of living, it is recommended not to borrow more than you can pay back using 10% of your monthly income earned after graduation. If you're considering attending Wake Forest University, you need to carefully consider if it will be realistic to make the post graduation loan payments based on your expected salary.

Using the 10% of salary threshold, an annual income of $156,291.35 would be needed to afford a $1,302.43 monthly payment in the example $124,740.00 loan modeled above. You will need to determine if it is at all realistic that you will be earning this type of salary after graduation. This assumes a loan payback over 10 years. You can change the terms of this example loan using the student loan calculator below.

For Profit / Not For Profit Status

Wake Forest University is a private not for profit institution.

Estimated Future Cost and Expected Tuition Increase

What will it cost to send your child to Wake Forest University in the future? In the past five years, this school's published in-state tuition and fee total rose from $32,140 to $41,576. This amounts to an average annual price increase of 5.9%. Nationally, university tuition prices are rising around 5% per year. Looking out five, ten, fifteen or eighteen years, these are CollegeCalc's estimates how much you could expect to pay for a 4 year degree assuming tuition increases at the national average rate. Estimated future prices are based on the current 4 year cost of $231,368.00. Use the college savings plan calculator below to perform a more comprehensive analysis on future costs and how much you will need to save for Wake Forest University.

Annual4 Year Degree
Estimated Cost in 5 years for students enrolling in 2019$79,546$318,185
Estimated Cost in 10 years for students enrolling in 2024$101,523$406,094
Estimated Cost in 15 years for students enrolling in 2029 $129,572$518,290
Estimated Cost in 18 years for students enrolling in 2032 $149,996$599,985

Tuition History

What was tuition at Wake Forest University five, ten, fifteen or twenty years ago? Hop into our time machine and take a look. Pay attention to how aggressive the school has been with price increases the past as it provides indication as to how the school may raise tuition in the next few years if you enrolled. Historical tuition and fees for all available data years back to 1988 follows.

YearTuitionAnnual Increase
2010$38,6224.5%
2009$36,9757.7%
2008$34,3306.8%
2007$32,1406.4%
2006$30,2106.7%
2005$28,3106.9%
2004$26,4907%
2003$24,7505.2%
2002$23,5305%
2001$22,4104.2%
2000$21,4975.1%
1999$20,4505.1%
1998$19,4505.1%
1997$18,50025.4%
1996$14,7506.5%
1995$13,8506.5%
1994$13,0008.3%
1993$12,00011.1%
1992$10,80010%
1991$9,82111.6%
1990$8,80010.7%
1989$7,9509.7%
1988$7,2509.8%
1987$6,600

Cost for Popular Majors

Below are the most popular undergraduate areas of study at Wake Forest University ranked by degrees conferred during the 2010/2011 academic year along with their estimated total program cost. Please consult the school's website for further information as actual costs for specific program may vary. Price estimates assume graduation in normal time. Our methodology for estimating these costs is a two or four year multiple of the current one year tuition and living cost of $57,842. Associates degrees are assumed to be completed in two years and bachelors degrees are assumed to take four years.

Area of Study Graduates Estimated Degree + Living Expense Cost
Business/Commerce, General Bachelor's Degree 113 $231,368
4 year estimate
Finance, General Bachelor's Degree 68 $231,368
4 year estimate
Kinesiology and Exercise Science Bachelor's Degree 62 $231,368
4 year estimate
Accounting Bachelor's Degree 52 $231,368
4 year estimate
Spanish Language and Literature Bachelor's Degree 19 $231,368
4 year estimate
Political Science and Government, General Bachelor's Degree 14 $231,368
4 year estimate
History, General Bachelor's Degree 12 $231,368
4 year estimate
Economics, General Bachelor's Degree 9 $231,368
4 year estimate
Econometrics and Quantitative Economics Bachelor's Degree 9 $231,368
4 year estimate
English Language and Literature, General Bachelor's Degree 9 $231,368
4 year estimate
Psychology, General Bachelor's Degree 8 $231,368
4 year estimate
Speech Communication and Rhetoric Bachelor's Degree 8 $231,368
4 year estimate
Religion/Religious Studies Bachelor's Degree 7 $231,368
4 year estimate
Sociology Bachelor's Degree 6 $231,368
4 year estimate
Drama and Dramatics/Theatre Arts, General Bachelor's Degree 6 $231,368
4 year estimate
Fine/Studio Arts, General Bachelor's Degree 6 $231,368
4 year estimate
Management Science Bachelor's Degree 5 $231,368
4 year estimate
Classics and Classical Languages, Literatures, and Linguistics Bachelor's Degree 4 $231,368
4 year estimate
Anthropology Bachelor's Degree 3 $231,368
4 year estimate
French Language and Literature Bachelor's Degree 3 $231,368
4 year estimate
Art History, Criticism and Conservation Bachelor's Degree 2 $231,368
4 year estimate
Music History, Literature, and Theory Bachelor's Degree 2 $231,368
4 year estimate
Music Performance, General Bachelor's Degree 2 $231,368
4 year estimate
Chinese Language and Literature Bachelor's Degree 2 $231,368
4 year estimate
Chemistry, General Bachelor's Degree 2 $231,368
4 year estimate
Physics, General Bachelor's Degree 2 $231,368
4 year estimate
Computer and Information Sciences, General Bachelor's Degree 1 $231,368
4 year estimate
Elementary Education and Teaching Bachelor's Degree 1 $231,368
4 year estimate
Social Studies Teacher Education Bachelor's Degree 1 $231,368
4 year estimate
Japanese Language and Literature Bachelor's Degree 1 $231,368
4 year estimate
Russian Language and Literature Bachelor's Degree 1 $231,368
4 year estimate
German Language and Literature Bachelor's Degree 1 $231,368
4 year estimate
Latin Language and Literature Bachelor's Degree 1 $231,368
4 year estimate
Biology/Biological Sciences, General Bachelor's Degree 1 $231,368
4 year estimate
Mathematics, General Bachelor's Degree 1 $231,368
4 year estimate
Statistics, General Bachelor's Degree 1 $231,368
4 year estimate
Philosophy Bachelor's Degree 1 $231,368
4 year estimate

About Wake Forest University

Wake Forest University is a four year private college located in Winston Salem, North Carolina.  Full time enrollment is 7,215 and part time is 129.  For the 2011/2012 school year, the school received 11,407 applicants. 3,875 were admitted and 1,240 enrolled.

Students attending this school may pursue both undergraduate and graduate degrees.

Learn more about getting in to Wake Forest University at CollegeSimply.

Address
Wake Forest University
1834 Wake Forest Road
Winston Salem, North Carolina
27106

Calculators

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