Wake Forest University's published cost of attendance reaches $82,818 annually, breaking down to $64,758 in tuition, $17,848 for room and board, and $1,630 for books and supplies. However, financial aid significantly reduces actual costs for most families, with the average student paying $28,746 after aid—representing $54,072 in financial aid savings.
Select your family income to see your estimated cost
Net prices are averages and may vary. Based on federal data for first-time, full-time students receiving aid.
| Cost Category | Amount |
|---|---|
| Total Cost of Attendance (Sticker Price) | $82,818 |
| Tuition and Fees | $64,758 |
| Room and Board | $17,848 |
| Books and Supplies | $1,630 |
| Average Financial Aid (Grants and Scholarships) | -$54,072 |
| Average Net Price (What Families Pay) | $28,746 |
| Family Income | Net Price |
|---|---|
| $0–30k | $11,554 |
| $30–48k | $6,043 |
| $48–75k | $12,769 |
| $75–110k | $19,759 |
| $110k+ | $54,447 |
Wake Forest University's published cost of attendance reaches $82,818 annually, breaking down to $64,758 in tuition, $17,848 for room and board, and $1,630 for books and supplies. However, financial aid significantly reduces actual costs for most families, with the average student paying $28,746 after aid—representing $54,072 in financial aid savings. This places Wake Forest's net price $1,603 below the peer median of $27,143 despite much higher sticker prices.
The substantial gap between published and actual costs reflects the university's commitment to need-based financial aid, though families should understand that aid concentrates heavily toward lower-income students. Net prices vary dramatically by family income, ranging from $11,554 for families earning under $30,000 to $54,447 for families earning over $110,000. This $42,893 spread demonstrates how financial aid targets lower-income families while higher-income families pay closer to full costs.
How much students borrow and whether debt is manageable given outcomes.
Debt is well below typical first-year earnings — generally considered very manageable.
Wake Forest graduates carry median debt of $21,500, which falls $2,681 below the peer median of $24,181, indicating somewhat favorable debt outcomes compared to similar institutions. Debt levels range from $12,500 at the 25th percentile to $29,500 at the 75th percentile, showing meaningful variation in borrowing patterns among graduates.
The debt-to-earnings ratio of 0.28 indicates that typical graduates' debt equals roughly 28% of their first-year earnings, which falls within manageable ranges for most career paths. Parent PLUS debt reaches a median of $28,983 with monthly payments of $382, representing additional family borrowing beyond student loans.
While student debt levels appear controlled relative to earnings and peer institutions, the combination of student and parent borrowing creates higher total family debt loads. The debt percentile of 58% places Wake Forest slightly above average nationally for debt levels, though still within reasonable ranges given the earning outcomes that facilitate repayment for most graduates.
How cost compares to graduate earnings and value added.
Wake Forest delivers strong return on educational investment despite higher costs typical of selective private institutions. Graduates earn $15,092 more annually than the peer median, helping justify the educational investment through superior earning outcomes.
However, earnings fall $10,305 below expectations relative to similar student demographics, indicating that the premium paid for Wake Forest may not generate proportional returns compared to student quality. The combination of above-average costs and mixed value-added performance creates a complex investment picture.
Students and families should weigh the institution's strong absolute earnings, extensive alumni networks, and brand recognition against the cost premium and limited additional value beyond student preparation. The 93rd percentile ranking for return on investment suggests favorable long-term economics for most graduates, though individual outcomes will vary significantly based on program choice, career path, and personal circumstances.
Wake Forest's financial aid approach reflects typical patterns for highly selective private institutions, with substantial aid available but concentrated toward lower-income students. The university's 9.5% Pell share indicates limited enrollment of students from families earning under $50,000 annually, suggesting that despite generous aid for qualifying families, recruitment and enrollment of low-income students remains modest.
The $54,072 average financial aid savings demonstrates significant institutional investment in affordability, though this figure represents an average across all aid recipients rather than guaranteed amounts. Students from middle-income families often face particular challenges at institutions like Wake Forest, earning too much to qualify for substantial need-based aid while finding the costs burdensome.
The progressive net price structure from $6,043 to $54,447 shows how family income directly influences actual costs, making financial planning essential for prospective families across income levels.
