Wake Forest University
Winston-Salem, NC 27106
About Wake Forest University
Wake Forest University (Wake Forest) is a selective private research university in Winston-Salem, North Carolina, serving roughly 5,485 students. Admission is selective for first-time degree-seeking undergraduates reporting admissions data to the Education Department. The acceptance rate is about 21.67% in the latest College Scorecard admissions data. Median earnings about ten years after entry reach about $78,158 among students who received federal aid.
Key findings
- Wake Forest University charges about 2.3× the national private non-profit median tuition ($67,642).
- Versus the North Carolina median, sticker tuition is about 9.8×.
- Completion within 150% of normal time is 89.15%.
- Median earnings 10 years after entry are $78,158.
Research findings
Finding
Average net price at Wake Forest University is about 58% below published tuition.
Published tuition is $67,642; average net price is $28,719 in the latest Scorecard extract.
Interpretation: Institutional aid and grants compress sticker price into a substantially lower typical undergraduate cost signal.
Limitation: Average net price masks variation by household income; income-band net prices can diverge sharply from the campus average.
Finding
Modeled return on investment at Wake Forest University is strong.
Estimated ROI reaches about 580% using Scorecard cost and 10-year earnings fields in this extract.
Interpretation: On this institution-wide model, typical graduate earnings over a decade substantially exceed estimated net education cost.
Limitation: ROI is institution-wide and not program-specific; individual outcomes vary by major, aid package, and labor market.
Finding
Wake Forest University awards credentials across a wide program mix.
IPEDS completions cover more than 85 distinct degree programs at this campus.
Interpretation: Institutional averages blend very different fields; program-level completions and earnings matter more than the campus mean alone.
Limitation: Completions counts are not enrollment demand and do not measure program quality.
Cost benchmarks
| Benchmark | Median Tuition | Median Net Price | Count |
|---|---|---|---|
| Wake Forest University | $67,642 | $28,719 | 1 |
| Private Non-profit (national median) | $29,325 | — | 1,444 |
| North Carolina (state median) | $6,906 | $6,820 | 133 |
| Urban (City) (locale median) | $15,200 | $20,053 | 1,346 |
| United States (national median) | $11,900 | $17,156 | — |
Compares this campus to school-type, state, and locale medians plus a U.S. national median (College Scorecard–derived). Locale groups campuses by NCES locale type; state tuition is the median published tuition among campuses in that state.
Average net price is 58% below published tuition at Wake Forest University
Key findings
- Wake Forest University's average net price ($28,719) is 58% below published tuition ($67,642).
- Wake Forest University charges about 2.3× the national private non-profit median tuition ($67,642).
- Versus the North Carolina median, sticker tuition is about 9.8×.
Wake Forest University tuition
Published undergraduate tuition $67,642
Finding Wake Forest University charges about 2.3× the national private non-profit median tuition.
Evidence Published tuition is $67,642. That is about 2.3× the national private non-profit median ($29,325). Versus the North Carolina median ($6,906), sticker tuition is about 9.8×. Versus the U.S. median ($11,900), sticker is about 5.7×.
Method Sticker tuition compared with Scorecard-derived medians by ownership, state, locale, and national rollups when available.
Interpretation Published tuition measures sticker price relative to private non-profit and geographic peers; it does not equal what undergraduates typically pay after aid.
Limitation Sticker comparisons omit room, board, and institutional aid; average net price and income-band net prices are the stronger signals of typical family cost.
Evidence: published tuition at Wake Forest University versus school-type, state, locale, and U.S. medians.
Evidence: average net price at Wake Forest University versus state, locale, and U.S. medians.
What undergraduates typically pay
Finding Average net price at Wake Forest University is $28,719.
Evidence College Scorecard average net price is $28,719 (cost of attendance minus average grant aid for aided undergraduates). That is about $21,898 above the North Carolina median net price. Versus urban (city) campuses, net price runs $8,666 above the locale median.
Method Average net price from College Scorecard; compared with state, locale, and U.S. medians from EDsmart aggregates.
Interpretation Average net price is a stronger institutional cost signal than published tuition because it incorporates grant aid.
Limitation The campus average masks large differences by household income; income-band net prices can diverge sharply from the overall average.
Key takeaway Wake Forest University’s published tuition substantially overstates typical undergraduate cost: average net price is about 58% lower after grants and scholarships.
Wake Forest University: research record
Canonical EDsmart Data findings for Wake Forest University—costs, outcomes, admissions, and programs—with evidence and methodology notes.
Research findings
Interpretation
Completion, earnings, and net price together describe a campus where sticker price overstates typical undergraduate cost while outcomes remain at the high end of Scorecard distributions.
Financial profile
Annual tuition
$67,642
Avg. net price
$28,719
Net price by family income
| Income bracket | Avg. annual net price |
|---|---|
| $0–$30,000 | $6,525 |
| $30,001–$48,000 | $6,331 |
| $48,001–$75,000 | $7,647 |
| $75,001–$110,000 | $12,771 |
| $110,001+ | $58,081 |
Sticker tuition × four years (estimate, no room/board): $270,568. See cost investigation.
Student outcomes
Share of first-year students returning the following fall.
Graduation rate and 10-year earnings are in the hero strip above; see Graduates for more.
What Wake Forest University is known for
Top program completions
- Business Administration and Management, General221
- Management Science161
- Psychology, General157
- Law156
- Communication and Media Studies155
See earnings & programs for more.
Admissions landscape
- Highly selective — fewer than 3 in 10 applicants are admitted.
- Yield: 37% of admitted students enrolled.
- Average SAT: 1475
See Admissions for the full funnel.
Is Wake Forest University a good school?
Data-framed fit—not a prestige rating.
Wake Forest University is a good school for those looking for strong completion and solid mid-career earnings—especially where average net price sits well below published tuition (about 58% lower in this extract).
EDsmart Data does not assign an opinion score; this framing summarizes the strongest Scorecard signals for this campus.
More from the data
Location, control, enrollment, and aid context for Wake Forest University.
Campus
Location
Winston-Salem, NC
City / state
- ZIP
- 27106
- NCES locale
- City
Compared with Urban (City) campuses nationally, net price is 43% above the median for Urban (City) campuses ($20,053 median).
Control
Institution type
Private Non-profit
Control
- Region
- Southeast
- Carnegie
- Doctoral Universities: High Research Activity
Size
Enrollment
5,485
Total enrollment
- Undergraduate
- 5,691
- Graduate
- 3,832
- Full-time share
- 99%
Student aid
Debt & aid
$21,500
Median federal loan debt
- Pell grant share
- 10.09%
Total Cost, Aid & Default
Total Cost of Attendance
Tuition vs average net price after aid for Wake Forest University.
Financial Aid by Income Level
Financial aid distribution by income level.
Student Loan Default Rate
The published 3-year cohort default rate for borrowers at Wake Forest University was 0.00%.
Cohort default rates account for borrowers who default in the first three years.
Tuition tracker
Published tuition and average net price by reporting year come from the College Scorecard institution file. Values are not adjusted for inflation; missing cells mean the field was not reported or was suppressed for Wake Forest University in that year.
Reporting years in the table below: 2013–2023 (Scorecard labels refer to the institutional submission cycle).
| Year | In-state tuition & fees | Out-of-state tuition & fees | Average net price |
|---|---|---|---|
| 2013 | $44,742 | $44,742 | $29,115 |
| 2014 | $46,200 | $46,200 | $30,472 |
| 2015 | $47,682 | $47,682 | $30,831 |
| 2016 | $49,308 | $49,308 | $28,082 |
| 2017 | $51,400 | $51,400 | $33,382 |
| 2018 | $53,322 | $53,322 | $32,129 |
| 2019 | $55,440 | $55,440 | $29,990 |
| 2020 | $57,760 | $57,760 | $32,845 |
| 2021 | $59,770 | $59,770 | $29,214 |
| 2022 | $62,128 | $62,128 | $34,720 |
| 2023 | $64,758 | $64,758 | $28,746 |
Sticker tuition and net price over time
Where the institution reported separate in-state and out-of-state tuition, both appear. Gaps mean the value was not reported for that year.
College Scorecard reporting-year fields (not inflation-adjusted).
Net price by family income
Brackets follow Scorecard definitions for the series shown (public vs private institution).
Latest income-band net prices available in the processed extract.
How difficult is it to get in?
Acceptance Rate
This institution is highly selective, accepting fewer than 3 in 10 applicants.
Applicants → admits → first-time enrollment from College Scorecard / IPEDS. Bar widths are scaled for readability at highly selective schools.
Test Scores
Average 1475 (middle 50% not reported)
Scores for enrollees who submitted tests (College Scorecard).
Academic Requirements
Estimated from admission selectivity and test scores. Scorecard does not publish admitted-student GPA for most institutions.
Estimated range · median 3.85
Estimated GPA band from selectivity and test scores — not an official requirement.
Enrollment & Student Demographics
Wake Forest University reported total enrollment of about 5,485 students in the latest College Scorecard extract. The student body is about 45% male and 55% female. Enrollment by race and ethnicity includes White (65.1%), Hispanic or Latino (9.7%), and Black or African American (6.4%). About 10.09% of undergraduates receive Pell Grants. Roughly 12.0% of students are first-generation college students.
Full-Time vs Part-Time Enrollment
98.7% Full-Time Enrollment
The total enrollment at Wake Forest University in 2024 is 5,485 students.
Undergraduate enrollment is about 5,691 students. Graduate enrollment is about 3,832 students.
Full-time vs part-time enrollment comparison.
Retention Rate over Time
92.6%
2024 Retention Rate
Retention rate measures the number of first-time students who began their studies the previous fall and returned to school the following fall.
Retention rate over time compared to similar institutions.
Enrollment by Race & Ethnicity
Largest share of total enrollment in our College Scorecard extract.
College Scorecard student demographics (total enrollment shares).
Do students complete their programs?
Time to Complete
84.23% 100% Completion Time
89.15% 150% Completion Time
In 2024, 84.23% of students graduating from Wake Forest University completed their program within 100% "normal time".
Completion rates over time compared to similar institutions.
Completions by Sex (Top Programs)
- Business Administration and Management, General: 58% male / 42% female
- Management Science: 60% male / 40% female
- Psychology, General: 22% male / 78% female
IPEDS completions by sex for the five largest programs (aggregate CIPs excluded).
Completions by Race & Ethnicity
Largest group by summed IPEDS award counts across reported programs.
Summed across program completion records in our extract.
Wake Forest University graduates earn a median of $78,158 ten years after entry
Finding Earnings, debt, and program mix define the financial profile of Wake Forest University.
Evidence Median earnings 10 years after entry: $78,158. Median federal loan debt: $21,500. Average net price used in cost models: $28,719.
Method College Scorecard median earnings (10-year), median debt, and EDsmart ROI / payback models using campus net price.
Interpretation Institution-wide ROI and debt ratios summarize campus averages; program choice still drives individual outcomes.
Limitation Salary reflects median earnings ten years after entry; ROI is not program-specific.
Key takeaway Wake Forest University graduates report median earnings of $78,158 ten years after entry—an institution-wide outcomes signal, not a program guarantee.
Return on Investment
Debt and 4-year net cost vs. cumulative 10-year median earnings for Wake Forest University.
Top Programs by Completions
Largest 10 programs by IPEDS completions (85 reported codes; aggregate/unknown CIP buckets excluded).
IPEDS award counts for the largest programs at Wake Forest University.
Employment Outcomes
Median earnings 6, 8, and 10 years after entry for Wake Forest University graduates.
How financially powerful is this institution?
Finding: federal finance and Scorecard instructional fields for Wake Forest University—endowment assets (fiscal year 2023), instructional staffing and expenditure. Compared with state, regional, and U.S. medians from EDsmart Data institutional financials.
Institutional endowment
$1.90B
End-of-year assets · Fiscal year 2023
- North Carolina median 159× the median ($12M)
- Southeast median 98× the median ($19.4M)
- U.S. median 72× the median ($26.4M)
- North Carolina median 26× the median ($8,184)
- Southeast median 23× the median ($9,308)
- U.S. median 18× the median ($12,100)
Instructional Resources
- Full-time faculty share: 75.6%
- North Carolina median 26.5 pp above median (49.1%)
- Southeast median 16.1 pp above median (59.4%)
- U.S. median 17.6 pp above median (58.0%)
- Average faculty salary (monthly): $12,666
- North Carolina median 1.9× the median ($6,566)
- Southeast median 1.9× the median ($6,825)
- U.S. median 1.7× the median ($7,615)
- Instructional expenditure per FTE: $35,708
- North Carolina median 4.4× the median ($8,093)
- Southeast median 5.4× the median ($6,602)
- U.S. median 4.9× the median ($7,288)
Instructional metrics from College Scorecard. Peer medians are campus-level; see the institutional financials deep dive. Detailed non-instructional staff counts are not included here.
Wake Forest University at a glance
Wake Forest University
Wake Forest University is a private non-profit institution in Winston-Salem, NC, classified as Doctoral Universities: High Research Activity.
- Largest programs (IPEDS awards)
- Business Administration and Management, GeneralManagement SciencePsychology, General
- Largest enrollment groups
- White or Caucasian65.1%Hispanic or Latino9.7%Black or African American6.4%
Schools near Wake Forest University
Other campuses in Winston-Salem, NC when available, plus nearby institutions in North Carolina.
Similar schools
Peers matched by the same EDsmart outcomes grade (Grade A) within North Carolina, then by similar ownership and admissions.
Frequently Asked Questions
Where is Wake Forest located?
Wake Forest University is located in Winston-Salem, NC. The institution is also known as Wake Forest.
What is Wake Forest's acceptance rate?
The acceptance rate at Wake Forest University (Wake Forest) is 21.7% among first-time degree-seeking students reporting admissions data. IPEDS reports 17,479 applicants and 3,768 admits in the latest admissions cycle in our extract.
What is Wake Forest's tuition?
Wake Forest University tuition (published undergraduate sticker price) is $67,642 in the latest College Scorecard data. Average net price after grant aid is $28,719 for undergraduates receiving Title IV aid.
How much does Wake Forest cost?
Reported tuition is $67,642 and average net price is $28,719 in the latest College Scorecard data. On-campus room and board is estimated at $18,494 annually.
Why is Wake Forest's net price so much lower than tuition?
At Wake Forest University, published tuition is $67,642 while average net price is $28,719—about 58% lower. Average net price subtracts grant and scholarship aid from cost of attendance for undergraduates receiving Title IV aid (College Scorecard). Institutional aid therefore compresses sticker price into a lower typical undergraduate cost signal. The campus average still masks large differences by household income; income-band net prices can diverge sharply from the overall average. EDsmart Data treats the sticker–net gap as an analytical finding, not advice about individual aid offers.
What explains Wake Forest's return on investment in EDsmart Data?
EDsmart Data models ROI using campus average net price ($28,719), completion (89.1% within 150% of normal time where reported), and median earnings ten years after entry ($78,158). High completion and strong mid-career earnings relative to net cost raise modeled ROI; the estimate is institution-wide and not program-specific. Debt-to-earnings ratios, when available, further contextualize borrowing pressure. Limitations include suppressed fields, program mix, and labor-market variation over time.
What is the student body demographics at Wake Forest?
Wake Forest University reports undergraduate enrollment of about 5,691 students, White (65.1%), Hispanic or Latino (9.7%) in federal College Scorecard data.
How many first-generation students attend Wake Forest?
About 12.0% of students at Wake Forest University are first-generation college students.
What test scores do students need for Wake Forest University?
Among enrolled students who submitted scores, Wake Forest University reports midpoint SAT about 1475.
What do graduates of Wake Forest University earn?
Median earnings are $67,722 six years after entry and $78,158 ten years after entry.
What is the graduation rate at Wake Forest University?
The 150%-time completion rate is 89.1% for the cohort reported to the College Scorecard.
How much debt do Wake Forest University students have?
Median federal loan debt among completers is $21,500.
Data Sources
This page uses data from the following sources:
- College Scorecard - U.S. Department of Education
- Institutional characteristics, costs, completion rates, and earnings data
- Data years: 2015-2024
- Source: collegescorecard.ed.gov
- Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS)
- Employment and wage data by occupation
- Latest data: May 2024
- Source: bls.gov/oes
- O*NET Online - U.S. Department of Labor
- Occupational skills, knowledge, abilities, and work activities
- Database version: 28.0 (August 2023)
- Source: onetcenter.org
- IPEDS (Integrated Postsecondary Education Data System) - National Center for Education Statistics
- Institutional data, completions, enrollment, and financial aid
- Data years: 2015-2024
- Source: nces.ed.gov/ipeds
- Census Bureau American Community Survey (ACS)
- Demographic and workforce data
- Latest data: 2023 ACS 5-Year Estimates
- Source: census.gov/acs
- Related geography & profiles
- North Carolina college profile
- North Carolina college costs
- North Carolina colleges by ROI
- Winston-Salem, North Carolina city profile
- Southeast regional profile
- Urban (City) college profile
- Campus-setting profiles
- All state profiles
- Regional profiles
- National benchmarks
- School directory
- All schools in North Carolina
Data Processing: All data has been processed, cleaned, and aggregated for presentation. Where specific data points are unavailable, estimates are based on available data and clearly marked.
Last Updated: Data reflects the most recent available information as of January 2025.
Methodology & Data Scope
This profile uses institution-level fields from the U.S. Department of Education College Scorecard, merged with IPEDS directory attributes where needed for locale, ownership, and program completions.
Benchmark rows compare this campus to NCES locale-type medians (for example Suburban) from our processed location extract. Implied U.S. medians are derived from locale-vs-national percentage fields in that extract—not a separate national Scorecard table.