How to Apply for Financial Aid
We know securing funding for your program is a top priority. We’re here to make it as straight-forward as possible.
Have a question? Reach out!
For any additional questions, please contact the Wake Forest SPS Office of Financial Aid & Student Accounts at spfinaid@wfu.edu.
Financial Aid Timeline
Make the most of your financial aid by staying on track with these key steps:
Step 1: Submit Your FAFSA
Complete your FAFSA at studentaid.gov after submitting your enrollment deposit. The School Code is E40512 (Wake Forest University Charlotte Center)
Step 2: Watch for Your Award
Your financial aid will be processed after you have registered for classes. Your offer will be sent to your WFU email account.
Step 3: Review & Respond
Log into ONE.WFU.EDU to accept, adjust, or decline your financial aid package.
Step 4: Complete Loan Requirements
If you're accepting loans, visit studentaid.gov to sign your Master Promissory Note (MPN) and Complete Entrance Counseling.
Step 5: Know the Billing Schedule
Billing due dates are posted at finance.wfu.edu/sfs/billing. Mark your calendar!
Step 6: Set Up Direct Deposit
Please visit the Student Refunds Page in Workday for more information regarding refunds and setting up your Direct Deposit Authorization.
Step 7: Aid Disburses
Your financial aid will be disbursed during the first week of your enrolled course(s).
Step 8: Refunds Arrive
Refunds are processed 3–5 business days after the first week of the module ends.
Types of Federal and Private Loans
Federal Direct Unsubsidized Loans
Federal Direct Graduate PLUS Loans
Private Educational Loans
Federal Direct Unsubsidized Loans
Visit StudentAid.gov
These government-backed loans are available to all U.S. citizens and legal residents, regardless of financial need. Students can borrow up to $20,500 per academic year. Interest accrues while you’re in school, but you can choose to pay it quarterly or defer it until after graduation.
Federal Direct Graduate PLUS Loans
Visit StudentAid.gov
If you need additional funding beyond the Federal Direct Unsubsidized Loan, the Graduate PLUS Loan is an option. This loan is also backed by the federal government, but eligibility is based on credit history rather than financial need. Students can borrow up to the full cost of attendance (tuition, fees, and living expenses) minus any other aid received.
Private Educational Loans
Compare Lenders
If federal loans don’t fully cover your tuition or you need additional funding, private loans may be an option. These loans are offered by banks, credit unions, and other financial institutions. Unlike federal loans, private loans are based on creditworthiness, and interest rates vary depending on the lender. Some students may need a co-signer, especially if they have limited credit history. While private loans can help bridge funding gaps, it’s generally recommended to maximize federal loan options first before considering private financing.
You can compare lender options at the link below.
You can compare lender options at the link below.
Frequently Asked Questions
What is FAFSA?
FAFSA (Free Application for Federal Student Aid) is the form used to apply for federal financial aid, including loans, grants, and work-study.
What all do I need to complete FAFSA?
You’ll need your Social Security number, tax returns, income information, and details about any assets. You do not need your parents' tax information or returns.
When can I begin the student loan application?
You can start applying for loans after you submit your FAFSA and receive your financial aid award.
Am I eligible for financial aid if I am an international student?
Federal financial aid is generally only available to U.S. citizens and eligible noncitizens.
Do I have to borrow the maximum loan amount?
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, spring, and summer semesters. You will want to account for this when accepting your loan offer. If you do not plan to attend a particular semester, please contact the SPS Office of Financial Aid for assistance at spfinaid@wfu.edu.
Are Federal Direct Unsubsidized Loan 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.
Where do I see the status of my financial aid offer?
Workday Student houses your personal information, financial aid offers, grades, and class schedules. The site is password-protected. You will receive information on logging into WorkDay Student after your enrollment deposit is received.
Will I know the details of my financial aid reward before I have to submit my tuition deposit?
Workday Student houses your personal information, financial aid offers, grades, and class schedules. The site is password-protected. You will receive information on logging into WorkDay Student after your enrollment deposit is received.
Do I need to fill out FAFSA each year?
Yes. FAFSA must be submitted every academic year to remain eligible for federal aid.
Am I eligible to borrow funding for living expenses?
Yes. Loan amounts may cover tuition, fees, and reasonable living expenses.
How can I access my financial aid and billing information?
Log in to the financial aid portal at one.wfu.edu to accept, adjust, or decline your financial aid offer.
Veteran Educational Benefits
If you spent time serving your country, there is a chance your program costs might be covered. The Department of Veterans Affairs (VA) has approved Wake Forest University as an eligible institution where students may use its Education Benefit Programs.
To get started, you must apply for benefits through the VA office. Once the VA makes a decision, it will mail your Certificate of Eligibility (COE) letter to you. Upon receipt, please email a copy of your COE to the SPS Office of Financial Aid at spfinaid@wfu.edu.
Want more information about Financial Aid?
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