Tuition & Financial Aid Welcome to Wake Forest University School of Professional Studies, Office of Financial Aid. We are committed to helping students achieve their educational goals by providing financial assistance through employer tuition reimbursement, scholarships, federal, and private loan programs. Regardless of how you choose to finance your professional degree, please know that we are here to assist you throughout the process. Financial Aid Guide Tuition & Cost of Attendance Paying for school Earning a graduate professional degree or certificate is a significant investment in your personal and professional development. The School of Professional Studies is committed to making your education attainable and affordable. Our varied financial options, including federal aid and scholarships ensures you have every opportunity to complete your graduate degree. Atoms / 03.Icon / Payment / FAFSA FAFSA Financial assistance is available to help cover the cost of attendance. To apply, please complete the Free Application for Federal Student Aid (FAFSA). You do not have to wait to be admitted to the School of Professional Studies; completing the FAFSA simultaneously with the admission process allows for a seamless financial aid process. The School Code is: E40512 (Wake Forest University Charlotte Center) Visit FAFSA Atoms / 03.Icon / Payment / Reiumbursement Employer Reimbursement Employers recognize that continuing education promotes professional development and could improve their business in the long-term. Reach out to your human resources department and inquire about employer reimbursement. Learn more about the terms of Wake Forest University’s Sponsored Billing below. Learn More Atoms / 03.Icon / Payment / Private Loan Private Loans A private loan can be a great alternative when paying for our professional programs. Private loans are another form of financial assistance available for your master’s degree or graduate certificate that cover tuition as well as additional expenses in lieu of or in combination with other financial aid options. Learn more about private educational loans below. Learn More Atoms / 03.Icon / Payment / Scholarship Scholarships The School of Professional Studies offers a number of scholarship opportunities for our students. All scholarship awards will be based on information collected through the admissions process. No separate scholarship application is required. Award decisions are based on considerations including academic merit, financial need, and individual award criteria. Learn More Atoms / 03.Icon / Payment / FAFSA Payment Plans Wake Forest University School of Professional Studies students who are enrolled in both mini terms each semester have the opportunity to participate in an interest-free, monthly payment plan through Nelnet Business Solutions. This is not a loan. No interest or credit check is required, but an enrollment fee of $125 is charged. Please note: Monthly payment plan dates are predetermined and cannot be changed. Before enrolling, students should review their Wake Forest University student account online to ensure all required expenses are included. Learn More Atoms / 03.Icon / Payment / Private Loan Federal Loan Programs Graduate/Professional students who have completed the Free Application for Federal Student Aid (FAFSA) will automatically be considered for the Federal Direct Unsubsidized Loan program. Eligibility is determined by the information reported on the FAFSA. Interest on this loan accrues while you are in school. The maximum a student may received per academic year is $20,500. An additional option for funding is available through the Graduate PLUS Loan. Eligibility for this loan is based on 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. Learn More Atoms / 03.Icon / Payment / Reiumbursement External Scholarships External Scholarship opportunities are available through third parties, professional organizations, religious affiliations, and community groups. We encourage our students to research these opportunities. These resources are provided for your convenience, the School of Professional Studies does not administer, endorse or provide guidance on the application processes, nor is involved in the review and selection process. The following organizations offer free scholarship search tools for students: Fast Web, Scholarships.com, Unigo, and Sallie Mae. *Please use discernment and be cautious of companies that charge a fee for their services. Scholarship Search Frequently Asked Questions How do I know if I qualify for financial aid? WFU School of Professional Studies students are encouraged to submit the Free Application for Federal Student Aid (FAFSA), which determines eligibility for federal loan programs. To qualify, you must be a U.S. citizen or permanent resident, have been accepted into a degree program, and plan to attend at least half-time (three or more credit hours) each semester. What is the Free Application for Federal Student Aid (FAFSA)? The FAFSA is the application that the Department of Education uses to determine if a student is eligible to receive federal student aid to fund their undergraduate and graduate programs. Do students need their parents’ tax information to complete the FAFSA? Students applying to graduate school do not need their parents’ information to complete the FAFSA. When can I begin the student loan application process? Student can begin the application process at any time after October 1st by completing the FAFSA online at studentaid.gov. Do students need to fill out the FAFSA each year? Yes. Eligibility for federal student aid does not carry over from one award year to the next. Students will need to complete the FAFSA for each award year in which they are or plan to be enrolled. Are Federal Unsubsidized Direct Loans guaranteed for all students? All U.S citizens and permanent residents are eligible for Direct Loan funding. Graduate/Professional students must be enrolled in at least half-time (3.0 credit hours) in order to be eligible for Federal Direct Loan funds. Do I have to borrow the maximum loan amounts? Students will be offered the maximum loan amount they are eligible to receive. We encourage students to borrow just what they need. Standard financial aid offers are split over the fall and spring terms. If you plan on taking class(es) in the summer, you will want to account for this when accepting your loan offer. We can reallocate funding not utilized during the fall/spring to the summer. Does interest start accrue on the full loan amount immediately? Interest accrues only on the cumulative loan amounts you have received. You may choose to pay accrued interest or allow the interest to be capitalized. Do students have to repay their loans while they are in school? A student’s federal loans will be in deferment status while they are enrolled at least half-time, and repayment begins six months after they have completed their program or dropped their enrollment status to less than half-time. Will I know the details of my financial aid offer before I submit the enrollment deposit? Not entirely. For estimated loans, students should anticipate being eligible to borrow the maximum Federal Unsubsidized Direct Loan amounts as long as they meet the basic eligibility requirements. Student can also review Private Educational Loan options to determine the best program for covering the remaining amount of their tuition/fee and living expenses. Am I eligible to borrow loan funding for living expenses? Yes. Financial aid budgets, referred to as Cost of Attendance, include updated cost of living estimates for students. A student’s total financial aid award may not exceed the Cost of Attendance. What are the steps for applying for a Federal Direct Unsubsidized Loan? Complete the Free Application for Federal Student Aid (FAFSA) Complete Loan Entrance Counseling Complete the Promissory Note for the Subsidized/Unsubsidized Direct Loan Are certificate program students eligible for financial aid? At this time, only students enrolled in a degree seeking program are eligible for financial aid. However, private loans are available for those students pursuing a certificate. Please go to elmselect.com to view the list of lenders. How do I calculate the total Cost of Attendance? The total amount of aid awarded annually is based on the Cost of Attendance (COA) for your program, which consists of the following: Direct costs: Tuition Indirect costs: Books, Room/Board, Transportation, Personal expenses Total COA figures for your program can be found here. How can I access my financial aid and billing information through WIN and DEAC? The Wake Information Network (WIN) houses your personal information such as Financial Aid offers, grades, and class schedules. The site is password protected. You will receive information on setting up your WIN page after your enrollment deposit is received. The Deacon Electronic Account Center (DEAC) is accessible from WIN or the Students Financial Services home page. DEAC is an electronic billing system that allows students and authorized payers online access to your WFU account information for items such as tuition, fees, and financial aid credits (loans, scholarships, etc.). When accessing DEAC, use the “View and Pay Accounts” tab to see real-time information. How is tuition billed? All billing is handled through Student Financial Services, which is separate from the Office of Financial Aid. Tuition and fee balances are billed every semester and are accessible through a student’s DEAC account. Students with questions about their bill, should contact Student Financial Services at 336.758.5234 or at spsacct@wfu.edu. Are monthly payment plans available? Yes, to learn more about payment plans, please go to finance.wfu.edu/students-parents/sfs/payment-methods/monthly-payment-plan/. Satisfactory Academic Progress (SAP) Satisfactory Academic Progress (SAP) is one of the criteria that a student must meet in order to remain eligible for financial assistance. SAP is made up of the following factors: Meeting a minimum cumulative grade point average requirement (GPA). Earning a minimum number of units for credit per semester. Completing the degree objective within a maximum number of semesters enrolled and a maximum number of units attempted. Students who do not meet the above factors are not eligible to receive federal financial aid, including student loans.