If your Prepaid/529 plan requires an invoice, submit the DEAC statement as the invoice. This ensures that there is no delay in processing the plan. If your Prepaid/529 plan rejects the DEAC statement, please email with the student name and the plan used.
At a Glance
If a sponsor (i.e. any outside agency, company, or state prepaid tuition program) will be paying all or part of your Wake Forest tuition and/or fees, and the sponsor requires a bill or invoice to be mailed directly from Student Financial Services, the following two items are required:
- A Written Authorization Letter from the sponsor.
- A Financial Information Release Form
**Note: For Prepaid/529 Plans that require an invoice, please send a DEAC Statement **
A written authorization must be received from a sponsor prior to the beginning of a semester. Once the sponsor authorization is received, a bill or invoice will then be sent to the agency/company.
**Please note: If, for any reason, the sponsor does not pay the invoice, the student will be liable for full payment of all charges incurred.
If your sponsorship amount is changed or cancelled, for any reason, you are responsible for unpaid amounts due Wake Forest University. Future sponsorships are not allowed until current sponsorships are paid in full. Students cannot enroll in future semesters or receive transcripts 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 email@example.com 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.
Outside Scholarships and International Sponsors
- Any funds received from an outside agency or company must be reported to the Office of Financial Aid.
- Please refer to the Office of Financial Aid website for policy and instructions regarding these types of funds.
Financial Information Release
Student Financial Services requires written permission to release Wake Forest 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 and sent to Student Financial Services on or before the appropriate due date listed below.
The financial information release form requests that Wake Forest 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 only needs to be completed once. The release will remain in effect throughout your attendance at Wake Forest University.
Financial Information Release form due dates:
New students entering
Form due by
|Fall semester||July 1|
|Spring semester||November 1|
|Summer semester||May 1|
Please mail, email or fax the release to:
Student Financial Services
Attention: Sponsored Billing
P.O. Box 7366
Winston-Salem, NC 27109
Questions on Sponsored Billing? Contact Student Financial Services at firstname.lastname@example.org
Money from a Prepaid or a 529 plan can be used for tuition, fees, books, supplies and equipment required for study at any accredited college, university or vocational school in the United States and at some foreign universities. Payments from a Prepaid or 529 plans need to be paid to the student account by the established due dates for the semester they apply to. Failure to do so could result in registration holds being placed on the student account.
Generally, this is the process for Prepaid/529 Plans:
- Parents/Students contact their Prepaid/529 Plan, and notify them of intent to use it for the academic year. If the plan has not been used before, please send an email to email@example.com and notify with the student’s name and ID, and the name of the plan that you want to use (ex: Florida Prepaid, Texas Prepaid, etc).
- Provide any necessary documentation to the plan, including the DEAC statement if an invoice is needed, and make sure to fill out a Financial Information Release Form so that Wake Forest University has permission to provide additional information to the plan if needed.
- Send the Financial Information Release Form, and any 529 documentation to the following e-mail: firstname.lastname@example.org, or if needed, send forms to the physical address previously mentioned above.
- Once Student Financial Services receives documentation, a memo (credit serving as placeholder for expected funds) will be put on the student’s account until the check arrives from the specified Prepaid/529 Plan in the mail. Depending on the plan, payments arrive between 30-45 days.
For 529 Savings/Prepaid Plans:
- Contact your plan as early as possible and follow any instructions provided by your savings 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.
- If an invoice is requested, please provide a copy of the current student billing statement, which is found in the WFU DEAC billing system.
- If the option to have funds sent directly to the school is chosen, the following information will be needed:
|Mailing address||Wake Forest University
P. O. Box 7366
Winston-Salem, NC 27109
For Private College 529 Plan:
The 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 Private College 529 Plan. If you are the beneficiary of a 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 Private College 529 Plan