Students receiving financial aid participate fully in campus activities and are active leaders who are fully integrated in the student body. Events on campus that are free or very low-cost occupy a large role in the social life of all students at Wake Forest. The Office of Student Financial Aid computes demonstrated need using federal and institutional methodologies widely accepted among private institutions. Families are expected to pay a portion of the student's expense, and in the event that parents are divorced, both custodial and non-custodial parents are expected to contribute. If they choose, families are able to use the Tuition Installment Plan as well as other alternative loan plans to meet their financial obligation.
Financial information is held in the strictest confidence.
Students are very seldom eligible to declare themselves self-supporting for student aid purposes, and the student also is expected to contribute toward his or her education by working during the summer. Loans and work typically compose about a third of the need-based aid package. Repayment of these student loans begins only after graduation. Awards are made to admitted students as soon as possible after admission. Most freshman aid awards are made by May 1.