Tuition, Fees & Living Expenses

2024-2025 Cost of Attendance (MSM)

The Masters in Management (MSM) degree is a three-semester program that begins in July and ends in May.

Tuition & FeesAnnual Amount
Full Tuition(1)$51,944
Required Activity/Health Services Fee(2)$1,172
Estimated Living Expenses(3)Annual Amount
Books, Course Materials, Supplies & Equipment$840
Federal Loan Origination Fees(4)$1,236
  1. Tuition is reviewed annually each spring and subject to a 3% to 5% increase.
  2. Health insurance is required by the University for all students and offered as an option for those needing coverage. Please visit Student Health Insurance Program to see insurance rates for your age band. Dependent coverage is available.
  3. Living expense estimates are based on reasonable cost of living for the Winston-Salem area. A student’s total financial aid package (scholarships, fellowships, and all education loans) cannot total more than the estimated living expenses plus tuition and fees (cost of attendance).
  4. Based on average student. If applicable, Federal loan fees include 1.057% Federal Unsubsidized Loan origination fee and a 4.228% Grad PLUS Loan origination fee.

Tuition by Semester and Due Dates:

Summer: $8,312 due early July

Fall: $21,816 due August 1

Spring: $21,816 due December 1

Cost of Living Comparison

The student budget above is an estimate of living expenses associated with being a full-time graduate student at Wake Forest, and includes: books/supplies, food, housing, utilities, renter’s insurance, transportation and personal expenses such as cell phone, cable/internet, laundry/dry cleaning, clothing, and recreation.  This budget does not consider existing consumer debt.  Minor adjustments may be necessary to fit your individual circumstances.

Winston-Salem, NC offers a great quality of life along with a low overall cost of living and very affordable housing options. At Wake Forest, graduate business students live off campus, where there are many nearby housing options, some of which provide free shuttle bus service.  The chart below compares Winston-Salem to other cities across the U.S. in terms of housing expenses.


Cost of Living

Adjustments to Cost of Attendance

In limited circumstances, the School of Business Office of Financial Aid may approve an increase to the Cost of Attendance (COA). Examples of expenses that may be approved include dependent care expenses, unexpected medical bills or disability-related expenses, and one-time computer purchases. All requests are reviewed on a case by case basis and documentation is required. Requests for increases to housing and other costs already included in the COA will not be approved except in extraordinary circumstances. Please contact the Office of Financial Aid at to request an individual review.

Contact Us

If you have specific questions, please contact the Financial Aid Office at 336.758.4048, or email the Financial Aid team at