Wake Forest University Financial Aid
The best schools for financial aid all have one thing in common: options. At Wake Forest, you can explore multiple ways to pay for your education. Explore your options.
Tuition Payment Options
Wake Forest University provides students online access to their financial accounts via the Deacon Electronic Account Center (DEAC). This system permits students and authorized payers to view account activity in real time.
Students are also able to pay tuition and fees via e-check through an authorized clearinghouse (ACH) in DEAC. DEAC accounts are automatically set up for all new incoming students. For international students, Wake Forest University has partnered with Flywire and Western Union to streamline the tuition payment process.
DEAC may be accessed from https://finance.wfu.edu/students-parents/sfs/deacon-electronic-account-center-deac/ or once logged into WIN https://win.wfu.edu/.
Payment Plan Option
An interest-free, monthly payment plan is available through Student Financial Services. Payment methods that are accepted through the plan are electronic funds transfer (e-check) from a checking or savings account or debit/credit card (Mastercard, Discover and American Express only).
A convenience fee of 2.7% per transaction is charged for credit/debit card payments. A nonrefundable $125 enrollment fee per semester is charged to participate in the plan.
The enrollment fee is a separate transaction from the first scheduled payment. If the enrollment fee returns, the monthly plan agreement will automatically terminate.
The enrollment periods for the payment plan option are:
- Spring = December 1
- Summer = April 1
- Fall = July 1
Third-Party Payers
Wake Forest University permits students to set up DEAC accounts for authorized users. Authorized users can make online payments on behalf of the respective student. To set up an authorized user account, students must begin the process online at: https://finance.wfu.edu/students-parents/sfs/payment-methods/sponsored-party-billing/http://finance.wfu.edu/sfs/payment-methods/third-party-billing.
Account Responsibility
Students are financially responsible for making payment to the university. Failure to receive a statement does not warrant exemption from the payment of tuition and fees or from penalties and restrictions. Failure to pay balances due on a student’s account may result in a financial hold or dismissal from the program. This hold will prevent registration and processing of official transcripts. This hold does not prevent transmission of grades.
Financial Aid Process
Students enrolled in the online Master of Arts in Counseling or Master of Arts in Human Sciences program may be eligible for federal financial aid provided they are enrolled at least half time (4.5 credit hours for graduate students) in a degree seeking program.
Students who are unclassified, non-degree seeking students or enrolled less than half-time are ineligible for federal aid.
To receive any federal loan, a student must be accepted or enrolled in a degree or certificate program. Admittance to a graduate program as a “Special Student” does not meet the admission criteria to qualify for federal financial aid.
To be considered for federal financial aid, a student must complete a Free Application for Federal Student Aid (FAFSA). A student may submit a FAFSA at any time during the academic year.
FAFSAs are available online at: http://fafsa.ed.gov/.
Financial Aid and the Wake Forest Academic Year
Graduate and undergrad financial aid awards are assessed for the academic year, which consists of the fall, spring and summer semesters. Here’s a breakdown:
- If a student is admitted into the program beginning in the fall semester, his or her award will consist of a fall/spring/summer award package.
- If the student is admitted in the spring semester, the award will consist of a spring/summer award.
- Summer admits will receive a summer semester award and will need to complete a new FAFSA to be considered for aid for the upcoming fall/spring/summer academic year.
- A FAFSA must be submitted each academic year to determine federal aid eligibility.
The standard time for the Department of Education to process and release a FAFSA to a college or university is 5-10 business days.
Students do not need to be admitted to the university to submit the FAFSA, but financial aid eligibility will not be assessed until the student has been officially accepted by the Wake Forest Department of Counseling and registered for classes.
Start Your Journey. Finance Your Degree.
Want more information about the Wake Forest University Financial Aid Office? We have personal enrollment advisors ready to answer any questions you may have.