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Policies

Policies

Account Responsibility

Wake Forest Students are financially responsible for making payment to the University. Failure to receive a statement does not warrant exemption from the payment of tuition and fees or from penalties and restrictions.

Failure to pay balances due on a student account may result in a financial hold. This hold will prevent registration, change of registration and processing of official transcripts. This hold does not prevent transmission of grades.

Students who have not pre-registered for courses will be required to make payment for tuition, fees, required deposits and any past-due balance at the time of registration.

All Wake Forest students are assigned a WFU Google Mail account. That e-mail account is used by Student Financial Services to communicate financial information to the student such as hold notifications. It’s the student’s responsibility to forward those emails to the appropriate parties.


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Credit Balances & Refunds

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Deposits

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Financial Aid

Financial Aid awards are applied to student accounts as follows:

 

Type of Financial Aid How Applied

Outside Scholarships
Evenly between fall and spring semesters, unless otherwise instructed by benefactor.

Perkins, Denmark, Hutchins, Wallace, DB Bryan, and Friends of Wake Forest Loans
After a promissory note has been signed. If a Master Promissory Note has been signed, another promissory note is not needed unless the terms of the loans change.

Stafford and PLUS Loans
Upon receipt of the funds.

IMPORTANT: If for any reason loans or scholarships are not received or are reduced, the student is responsible for the balance due.

Student borrowers of Federal Stafford or Federal Perkins Loans have the right to cancel all or a portion of the loan disbursement within a certain period of time. Students should be aware that canceling any aid may result in unpaid charges and prevent enrollment. For details, contact the Office of Student Financial Aid or call (336) 758-5154.


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Past Due Accounts

A student with past-due balances cannot:

  • register for future semesters
  • receive an official transcript of academic record
  • have academic credits certified
  • receive a diploma upon graduation

In addition, a student with a past-due balance may be subject to cancellation from classes.


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Returned Checks/Rejected Payments

(This policy is not applicable to the monthly payment plan) All returned checks and rejected eCheck payments will be assessed a $25 fee. Student Financial Services will notify students/authorized payers of returned or rejected payments as follows:

Returned Checks: A letter will be mailed to the student’s primary address on file or an email will be sent to the student’s Wake Forest email address.

Rejected eCheck Payments: An email will be sent to the student and authorized payer email addresses as specified in DEAC.

If an account indicates a history of returned checks, the University may require future payments by cash, money order or certified check.


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Withdrawal/Course Drop

A student who withdraws from the University during a term or who drops a course before completing it may be entitled to a refund as follows:

Schedule of Adjustments for Withdrawal or Continuous Enrollment Start Date

Fall & Spring Semesters

Official Date
Tuition Refunded
Before Classes Begin100% , less deposit
First week of classes90%
Second week of classes75%
Third week of classes50%
Fourth week of classes30%
Fifth week of classes20%
After fifth week of classes 0%

Summer Sessions

Class Days
Tuition Refunded
Days 1 - 3Total tuition, less deposit
Day 475%
Day 550%
Day 625%
After Day 60%

Students are responsible for officially dropping courses to be eligible for a refund. Nonpayment for classes for which you are registered or non-attendance in a registered class does not release you from financial obligation and will not drop you from the class.

For more information, refer to the Refund of Charges and Return of Financial Aid Funds Policy.

IMPORTANT: A withdrawal/course drop may affect financial aid eligibility.

A student using scholarships, grants, or loans to help pay educational expenses, whose account was paid-in-full prior to withdrawal, is likely to owe the University after withdrawal. Return of Title IV funds are handled in accordance with federal law. Please refer to Wake Forest’s official Refund of Charges and Return of Financial Aid Funds Policy. Students should consult the Office of Student Financial Aid for more information.

Tuition, fees, room rent and related charges are not refunded for findings of responsibility within the undergraduate student judicial review process.

Course Drop/Withdrawal Procedures

Undergraduate students should contact the Registrar for course drop information or the Office of Academic Advising at (336) 758-3320 for withdrawal procedures. An undergraduate student may not register for part-time status (fewer than 12 hours in a semester) without specific permission of the appropriate dean prior to the last day to add a course and is subject to the tuition refund schedule.

Graduate and professional students should refer to their school’s bulletin or website.


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Tuition Concession

University employees and their families who enroll as students and use the tuition concession benefit offered through Human Resources are required to meet Wake Forest payment deadlines and follow all policies and procedures.


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Prepaid Health Care Debit Cards

Wake Forest does not accept prepaid health care debit cards as a method of payment for student health charges. Students/parents should request that their medical prepaid plan provider issue a check made payable to Wake Forest University for the charges. The check should include the Student ID Number.


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