Wake Forest University makes every effort to provide financial assistance to qualified students through merit-based scholarships and private and governmental loan programs. We understand the financial implications involved when deciding whether to pursue a graduate business degree. With that in mind, we have provided details below about tuition, scholarships and financial aid, including loan options.
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Tuition Due Dates:
Fall Semester – August 1
Spring Semester – December 1
Summer Semester – June 1
The Evening MBA is a two-year program consisting of six total semesters.
|Tuition and Fees (1)||Per Semester||Per Academic Year |
(3 semesters: Fall/Spring/Summer)
|Loan Origination Fee (2)||$73||$219|
|Total Tuition & Fees||$13,373||$40,119|
- Tuition is reviewed annually and subject to a 3%-5% increase. The expenses listed above are for one academic year only. The Winston-Salem Evening MBA is a two-year program (6 semesters total), therefore please budget accordingly.
- If applicable. Loan fees include 1.066% Federal Stafford origination fee. If you borrow a PLUS loan, a 4.264% origination fee is assessed.
|Living Expenses (3)||Per Semester||Per Academic Year |
(3 semesters: Fall/Spring/Summer)
|Books||$0 (included)||$0 (included)|
|Total Living Expenses||$4,905||$14,715|
|Total Cost of Attendance||$18,278||$54,834|
- 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.
- Personal expenses include items such as cell phone, cable/internet, laundry/dry cleaning, clothing, hair/grooming and recreation. Health insurance is required by the University for all students and offered as an option for those needing coverage. Please visit www.wfu.edu/sip to see insurance rates for your age band. Dependent coverage is available.
- Statements concerning courses, expenses and tuition are not irrevocable contracts between the student and the institution. Wake Forest University reserves the right to change the schedule of classes and the cost of instruction at any time. Regulations governing loan programs also may change.
- International students: A $100 SEVIS fee will be assessed in addition to the fees listed above.
Cost of Living Comparison
Winston-Salem, NC offers a great quality of life along with a low overall cost of living and very affordable housing options. The chart below compares Winston-Salem to other cities across the U.S. in terms of housing expenses and composite cost of living.
The student budget includes program costs and living expenses associated with being a part-time student at the School of Business. The expenses include: room and board, utilities, health insurance, renter’s insurance, transportation (car insurance and maintenance) and personal expenses.
The MBA student budget covers a 12-month academic year.
Living expenses can vary widely. To keep the student budget as low as possible, we assume that a student will have shared housing and live in a fairly frugal manner. This budget does not consider existing consumer debt. Minor adjustments may be necessary to fit your individual circumstances, but the overall budget is firm.
Completing the FAFSA
Students seeking financial aid must complete the Free Application for Federal Student Aid (FAFSA) online at fafsa.ed.gov. The Wake Forest University School of Business Title IV Code is E00515. Individuals will not be considered for federal student loans until the FAFSA has been submitted to the U.S. Department of Education and a student aid report is received by the School of Business financial aid office.
The Federal Direct Loan
Federal Direct loans are guaranteed government loans available to all U.S. citizens and legal residents. A completed FAFSA is required to determine eligibility. Students may borrow a maximum of $20,500 in the unsubsidized Direct loan per academic year, and have the option of paying the accruing interest on a quarterly basis while in school. See studentaid.ed.gov for additional information, including current interest rates and origination fees.
The Graduate PLUS Loan
Graduate and professional students have an additional, affordable option for funding their education with the Graduate PLUS Loan, which is guaranteed by the federal government and has a fixed interest rate. Eligibility for this loan is not based on household income, assets or financial need, but it is determined, in part, by your personal credit history. Many students with limited or no credit history can qualify. An eligible student can borrow up to the cost of attendance minus any other aid received. A completed FAFSA is required to determine eligibility.
Like federal loans, private loans are designed to help students who need financial assistance with educational costs. In most cases, it is advantageous for students to first pursue Unsubsidized Federal Direct Loans and Federal Graduate PLUS Loans before seeking private loans. Private loans are not based on need; approval is generally based on creditworthiness and ability to repay. Students who do not meet a lender’s credit qualifications or who are not U.S. citizens may need to apply with a credit-worthy co-signer. Interest rates, grace periods, repayment options and fees are determined by the lender and can vary considerably from lender to lender. As with the Graduate PLUS Loan, the maximum amount that may be borrowed is the difference between cost of attendance and other financial aid.
Wake Forest partners with Elm Resources to provide a list of private lenders based on the quality of products and services they provide to students. However, if you wish to use another lender that is not on this list, you have the right to do so. International students will find a lender option that does not require a U.S. co-signer.
Veterans Affairs Educational Benefits
Wake Forest University welcomes all Veterans and is a partner in the Yellow Ribbon Program, sponsored by the United States Department of Veterans Affairs. Veterans who are 100% eligible for Post 9/11 educational benefits and are eligible for the Yellow Ribbon program can receive up to $15,500 in matching funds from the University per academic year. Eligibility for Veteran’s benefits is assessed by the VA. We advise students to visit the VA website or their local VA office to begin the process for obtaining a “Certificate of Eligibility”. This COE must be shared with the financial aid office staff so funds can be requested on your behalf. For more information, visit: http://benefits.va.gov/gibill/.
Submit Your Enrollment Deposit
Whether you are accepting or declining Wake Forest University’s offer of admission, the Office of Graduate Business Admissions asks that you complete the online Admissions Response Form to officially accept or officially decline our offer of admission.
Follow these steps:
|Log in to your Self Service Center using your username and password.|
|Click on the Applications tab, then next to Decisions, click on your Decision link which allows you to view your online Decision Letter.|
|Within the online letter, click on the Enroll link in the upper right corner.|
|If you are planning to accept the offer of admissions, indicate your intent to enroll and follow the step-by-step instructions to submit your enrollment deposit. Deposits may be made via check, credit card or wire transfer.|
For International students only: Review FAQs for International Students for requirements that may be specific to non-U.S. citizens.
If you have specific questions, please contact Linda Higgins, Associate Director of Financial Aid, at 336.758.4424, or Michelle Van Meter, Financial Aid Officer, at 336.758.4045, or email the Financial Aid Office at firstname.lastname@example.org.