Tuition fees at Wake Forest University rose by 3.9% for the 2022-23 academic year, based on the most recent disclosure, according to the latest disclosure from the National Center for Education Statistics.
Students paid $62,128 to attend the private, four-year, not-for-profit university this year, which is $2,358 higher than the $59,770 charged during the 2021-22 academic year.
Approximately 14% of the undergraduate student body are residents of North Carolina, while about 77% come from other states and 9% are international students.
Data indicates that 42% of full-time undergraduates who enrolled at Wake Forest University in 2022-23 received some form of student financial aid. A total of 468 students were awarded grants or scholarships amounting to $25.8 million, and 194 students borrowed over $1.9 million in student loans.
Across all undergraduate students, 2,266 received grants or scholarships totaling $104.4 million. Additionally, 794 students took out federal student loans totaling $4.8 million.
Undergraduate education costs have seen a significant increase over the past few decades. Data shows a 169% rise in the average total cost, including tuition, fees, room, and board, between 1980 and 2020.
According to a 2023 College Board report, in-state students at public universities paid an average of $11,260, while out-of-state students paid $29,150 in the 2023-24 academic year.
Meanwhile, student loan debt has steadily increased over the last 30 years, reaching $1.75 trillion in 2024, averaging a total of $28,950 per borrower. Federal loans make up 92% of the debt, with over half of students at both public and private four-year colleges graduating with student loans.
Available data sometimes exceeds 100% due to rounding and administrative calculations.
The following data includes only full-time students who began an undergraduate program at the Wake Forest University in the 2022-23 school year.
| Type of Aid | Number of students awarded aid | Percent awarded aid | Total amount of aid awarded | Average amount of aid per student |
|---|---|---|---|---|
| Federal grants | 143 | 10% | $1 million | $7,151 |
| State / local grant or scholarship | 48 | 4% | $317,654 | $6,618 |
| Institutional grants or scholarships | 463 | 34% | $24.4 million | $52,790 |
| Grant or scholarship aid total | 468 | 34% | $25.8 million | $55,090 |
| Federal student loans | 182 | 13% | $931,145 | $5,116 |
| Other student loans | 28 | 2% | $983,161 | $35,113 |
| Student loan aid | 194 | 14% | $1.9 million | $9,868 |
| Total student aid | 570 | 42% | $27.7 million | $48,590 |
Information in this story was obtained from the National Center for Education Statistics. The source data can be found here.
