Sponsored Billing & 529 Plans

• Parents/Students should contact their College Savings 529 Plan to notify them of intent to use the plan for the academic year.
• Provide any necessary documentation to the plan, including the Workday Student Statement if an invoice is needed.
• If the option to have funds sent directly to the school is chosen, the following information will be needed:

• Parents/Students should contact their Prepaid Tuition 529 Plan to notify them of intent to use the plan for the academic year.
• If your plan pays per credit hour and requires an invoice that includes a registration breakdown, you can access the Student Statement in Workday. This statement can be generated as a PDF and and saved or printed.
• Wake Forest University is not responsible for sending a statement on your behalf.

If you are using the Mississippi PACT plan, please reach out to us at sfsbills@wfu.edu.

• Contact your plan as early as possible and follow any instructions provided by your 529 plan. This often involves completing a withdrawal request through your plan.
• Please ensure that your withdrawal request is submitted early enough to allow ample time for processing and mailing before the WFU tuition due dates.

The CollegeWell Private College 529 Plan is a prepaid savings plan run by a consortium of more than 200 private colleges. The plan allows families the immediate opportunity to lock in a discounted tuition cost at a participating college in a future year. Wake Forest is a participating institution in the CollegeWell Private College 529 Plan. If you are the beneficiary of a CollegeWell Private College 529 Plan, be sure to redeem by the tuition due date each semester.

Important Note: Redemptions should be requested after July 1st in order to take advantage of the tuition discount for the upcoming academic year. If redemptions are requested prior to July 1st the beneficiary will receive credit for the prior academic year tuition rate.

For more information on this type of plan, please visit the CollegeWell website.

If your College Savings plan requires an invoice, submit the Student Statement that is available in Workday. This ensures that there is no delay in processing the plan.

If you are using the Mississippi PACT plan, please reach out to us at sfsbills@wfu.edu.

Participation in a College Savings 529/ Prepaid Tuition 529 plan does not exempt a student from the established Wake Forest University tuition due dates; payments should be remitted to the student account per the payment schedule for the applicable semester. If there is any doubt that the plan’s payment will not be received by the established due dates, it is recommended to pay upfront.

Once the funds from the College Savings 529/Prepaid Tuition 529 plan are received, the available credit would be eligible for refund.

A written authorization must be received from a sponsor prior to the beginning of a semester; this could be a voucher, Letter of Credit, etc. Once the sponsor authorization is received, an invoice will then be sent to the agency/company.

Please note: If, for any reason, your sponsorship amount is changed, cancelled, or your sponsor does not pay the invoice, you are responsible for the unpaid amounts due to Wake Forest University. Payments should be remitted to the student account per the WFU tuition due dates. Future sponsorships are not allowed until current sponsorships are paid in full. Students may not be eligible to register for future semesters until all charges on their Wake Forest University accounts are paid in full.

In addition, if you are using a sponsor for the first time, please ensure that documentation is submitted to Student Financial Services at sfsbills@wfu.edu at least two weeks prior to the payment due date for the upcoming semester. This will allow more time for Wake Forest to review the sponsor’s program and determine if the policies associated with the program are in line with our own. If for some reason the policies conflict, submitting the documentation earlier will provide an opportunity to find other means of payment.

Student Financial Services requires permission to release Wake Forest University student account information to any sponsor. If a sponsor will pay all or part of your eligible tuition and/or fees, then a Financial Information Release form must be completed on or before the appropriate date(s) listed below.

The Financial Information Release form requests that Wake Forest University bill any sponsor from whom an authorization letter has been received and release information to the sponsor as needed to service your account. This form will need to be submitted each academic year you intend to utilize this payment method.

Financial Information Release form due dates: