Wake Forest University

www.wfu.edu

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2023 Undergraduate Tuition

$63,608

4.25% growth from 2022

2023 Average Net Price

$27,790

After Financial Aid

2020 Default Rate

on Student Loans

2023 Acceptance Rate

21.6%

17,479 Applicants

2023 Enrolled Students

9,121

87.9% Full-Time

2023 Graduation Rate

90.9%

1,224 Graduates

About

Wake Forest University is a higher education institution located in Forsyth County, NC. In 2023, the most popular Masters Degree concentrations at Wake Forest University were General Business Administration & Management (356 degrees awarded), Management Science (154 degrees), and Other Management Sciences & Quantitative Methods (122 degrees).

In 2023, 3,051 degrees were awarded across all undergraduate and graduate programs at Wake Forest University. 55.1% of these degrees were awarded to women, and 44.9% awarded men. The most common race/ethnicity group of degree recipients was white (1,960 degrees), 8.38 times more than then the next closest race/ethnicity group, black or african american (234 degrees).

The median undergraduate tuition at Wake Forest University is $63,608, which is $32,605 more than the national average for Doctoral Universities ($31,004).

In 2020 the default rate for borrower's at Wake Forest University was 0%, corresponding to 0 out of the 1,135 total borrowers.

Doctoral Universities: Higher Research Activity Doctoral Universities

Costs

In 2023, the median undergraduate tuition at Wake Forest University is $63,608, which is $32,605 more than the national average for Doctoral Universities ($31,004).

After taking grants and loans into account, the average net price for students is $27,790.

In 2023, 42% of undergraduate students attending Wake Forest University received financial aid through grants. Comparatively, 15% of undergraduate students received financial aid through loans.

Tuition Costs

$63,608

2023 Undergraduate Tuition

In 2023, the cost of tuition at Wake Forest University was $63,608. The cost of tuition at Wake Forest University is $32,605 more than than the overall (public and private) national average for Doctoral Universities ($31,004).

This chart compares the tuition costs of Wake Forest University (in red) with those of other similar universities.

Average Net Price

$27,790

2023 Value

6.08%

1 Year Growth

In 2023 Wake Forest University had an average net price — the price paid after factoring in grants and loans — of $27,790. Between 2022 and 2023, the average net price of Wake Forest University grew by 6.08%.

This chart compares the average net price of Wake Forest University (in red) with that of other similar universities.

Average net price is calculated from full-time beginning undergraduate students who were awarded a grant or scholarship from federal, state or local governments, or the institution.

Other Student Expenses

$16,652

Room and Board

$1,500

Books and Supplies

The average yearly cost of room and board at Wake Forest University was of $16,652 in 2023. The cost of room and board increased by 3.79% between 2022 and 2023.

During the same period, the average yearly cost of books and supplies was $1,500. The cost of books and supplies did not change during the same period.

This chart compares the average student costs at Wake Forest University (in red) with that of similar universities.

Financial Aid by Income Level

42%

Undergraduates Receiving Financial Aid through Grants

15%

Undergraduates Receiving Financial Aid through Loans

42% of undergraduate students at Wake Forest University received financial aid through grants or loans in 2023. This represents a growth of 2.44% with respect to 2022, when 41% of undergraduate students received financial aid.

This chart compares the average award discount at Wake Forest University (in red) with that of other similar universities.

The average award discount is the ratio between the average grant or scholarship value, and the cost, which is the sum of out-of-state tuition, room, board, book, supplies, and other expenses.

Student Loan Default Rate

Cohort default rates only account for borrowers who default in the first three years, and some schools only have a small proportion of borrowers entering repayment. These rates should be interpreted with caution, as they may not be reflective of the entire school population.

2020 Default Rate

Number of Defaults

In 2020 the default rate for borrower's at Wake Forest University was 0%, which represents 0 out of the 1135 total borrowers.

A cohort default rate is the percentage of a school's borrowers who enter repayment on certain Federal Family Education Loan (FFEL) Program or William D. Ford Federal Direct Loan (Direct Loan) Program loans during a particular federal fiscal year (FY), October 1 to September 30, and default or meet other specified conditions prior to the end of the second following fiscal year.

Admissions

Wake Forest University received 17,479 undergraduate applications in 2023, which represents a 3.69% annual growth. Out of those 17,479 applicants, 3,768 students were accepted for enrollment, representing a 21.6% acceptance rate.

There were 9,121 students enrolled at Wake Forest University in 2023. 26% of first-time enrollees submitted SAT scores with their applications.

Wake Forest University has an overall enrollment yield of 36.8%, which represents the number of admitted students who ended up enrolling.

Acceptance Rate

21.6%

Acceptance Rate in 2023

3,768

Accepted Out of 17,479

In 2023, the undergraduate acceptance rate of Wake Forest University was 21.6% (3,768 admissions from 17,479 applications). This is higher than the acceptance rate of 2022, which was 21.4%. Between 2022 and 2023, the number of applicants grew by 3.69%, while admissions grew by 4.61%.

This chart compares the acceptance rate of Wake Forest University (in red) with that of other similar universities, and the chart below shows the acceptance rate by gender.

SAT Scores

26%

Submission Percentage (2023)

357

Scores Submitted (2023)

26% of enrolled first-time students at Wake Forest University in 2023 submitted SAT scores with their applications.

The following chart shows the average SAT scores for the 25th, 50th, and 75th percentile of applicants for each section of the test that they are evaluated on.

Enrollment

Wake Forest University had a total enrollment of 9,121 students in 2023. The full-time enrollment at Wake Forest University is 8,013 students and the part-time enrollment is 1,108. This means that 87.9% of students enrolled at Wake Forest University are enrolled full-time.

The enrolled student population at Wake Forest University, both undergraduate and graduate, is 62% White, 9.44% Hispanic or Latino, 8.23% Black or African American, 5.89% Asian, 4.51% Two or More Races, 0.164% American Indian or Alaska Native, and 0.0329% Native Hawaiian or Other Pacific Islanders.

Students enrolled at Wake Forest University in full-time Undergraduate programs are most commonly White Female (36.6%), followed by White Male (28.5%) and Hispanic or Latino Female (5.52%). Students enrolled in full-time Graduate programs are most commonly White Female (31.5%), followed by White Male (25.2%) and Hispanic or Latino Female (5.25%).

Full-Time vs Part-Time Enrollment

87.9%

Full-Time Enrollment

The total enrollment at Wake Forest University in 2023, both undergraduate and graduate, is 9,121 students. The full-time enrollment at Wake Forest University is 8,013 and the part-time enrollment is 1,108. This means that 87.9% of students enrolled at Wake Forest University are enrolled full-time compared with 77.9% at similar Doctoral Universities.

This chart shows the full-time vs part-time enrollment status at Wake Forest University (in red) compares to similar universities.

Retention Rate over Time

95%

2023 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. The retention rate for full-time undergraduates at Wake Forest University was 95%. Compared with the full-time retention rate at similar Doctoral Universities (84%), Wake Forest University had a retention rate higher than its peers.

This chart shows the retention rate over time at Wake Forest University (highlighted in red) compares to similar universities.

Enrollment by Race & Ethnicity

Most Common Race or Ethnicity (2023)

White
5,652 enrolled students
Hispanic or Latino
861 enrolled students
Black or African American
751 enrolled students

The enrolled student population at Wake Forest University is 62% White, 9.44% Hispanic or Latino, 8.23% Black or African American, 5.89% Asian, 4.51% Two or More Races, 0.164% American Indian or Alaska Native, and 0.0329% Native Hawaiian or Other Pacific Islanders. This includes both full-time and part-time students as well as graduate and undergraduates. By comparison, enrollment for all Doctoral Universities is 46.5% White, 15.9% Hispanic or Latino, and 9.78% Black or African American.

Any student who is studying in the United States on a temporary basis is categorized as a "Non-Resident Alien", and the share of those students are shown in the chart below. Additionally, 153 students (1.68%) did not report their race.

Graduates

In 2023, 313 more women than men received degrees from Wake Forest University. The most common race/ethnicity group of degree recipients at Wake Forest University is white (1,960 degrees awarded). There were 8.38 times more white recipients than the next closest race/ethnicity group, black or african american (234 degrees).

The most common Masters Degree concentration at Wake Forest University is General Business Administration & Management (356 degrees awarded), followed by Management Science (154 degrees) and Other Management Sciences & Quantitative Methods (122 degrees).

In 2023, the most specialized majors across all degree types at Wake Forest University, meaning they have significantly more degrees awarded in that concentration than the national average across all institutions, are Legal (163 degrees awarded), Philosophy and Religious Studies (41 degrees), and Math & Statistics (85 degrees).

Common Jobs by Major

Secondary school teachers

Most Common Job

The most common jobs for people who hold a degree in one of the 5 most specialized majors at Wake Forest University are Secondary school teachers (104,423 people), Postsecondary teachers (99,899 people), Elementary & middle school teachers (94,891 people), Other managers (91,440 people), and Software developers (72,645 people).

The most specialized majors at Wake Forest University in 2023 are Legal (163 degrees awarded), Philosophy and Religious Studies (41 degrees), Math & Statistics (85 degrees), Language & Linguistics (48 degrees), and Parks, Recreation, & Leisure (107 degrees) (as of 2023).

Highest Paying Jobs by Major

Diagnostic medical sonographers

Highest Paying Job

The highest paying jobs for people who hold a degree in one of the 5 most specialized majors at Wake Forest University are Diagnostic medical sonographers, Surgeons, Cardiovascular technologists and technicians, Securities, commodities, & financial services sales agents, and Magnetic resonance imaging technologists

The most specialized majors at Wake Forest University are Legal (163 degrees awarded), Philosophy and Religious Studies (41 degrees), Math & Statistics (85 degrees), Language & Linguistics (48 degrees), and Parks, Recreation, & Leisure (107 degrees) (as of 2023).

Common Industries by Major

Elementary & secondary schools

Most Common Industry

The most common industries for people who hold a degree in one of the 5 most specialized majors at Wake Forest University are Elementary & secondary schools (491,377 people), Colleges, universities & professional schools, including junior colleges (373,111 people), Legal services (357,727 people), Computer Systems Design (264,346 people), and Justice, public order, & safety activities (209,791 people).

Majors Awarded

IPEDS uses the Classification of Instructional Programs (CIP) standard, so the categories may not match the exact concentrations offered by Wake Forest University.

Most Common (2023)

General Finance
156 degrees awarded
General Communication
121 degrees awarded
General Business
120 degrees awarded

In 2023, the most common bachelors degree concentration at Wake Forest University was General Finance with 156 degrees awarded.

This visualization illustrates the percentage of degree-majors recipients from bachelors degree programs at Wake Forest University according to their major.

Sex Breakdown for Common Majors

1,369

Degrees Awarded to Men

in 2023

1,682

Degrees Awarded to Women

in 2023

In 2023, 1,369 degrees were awarded to men at Wake Forest University, which is 0.814 times less than the number of degrees awarded to females (1,682).

This chart displays the sex disparity between the top 5 majors at Wake Forest University by degrees awarded.

Most Common Male Majors

In 2023, 210 degrees were awarded to men at Wake Forest University in General Business Administration & Management, which is 1.44 times more than the 146 female recipients with that same degree.

Most Common Female Majors

In 2023, 146 degrees were awarded to men at Wake Forest University in General Business Administration & Management, which is 0.695 times less than the 210 male recipients with that same degree.

Time to Complete

86%

100% Completion Time

90%

150% Completion Time

In 2023, 86% of students graduating from Wake Forest University completed their program within 100% "normal time" (i.e. 4 years for a 4-year degree). Comparatively, 90% completed their degrees within 150% of the normal time, and 91% within 200%.

The following chart shows these completion rates over time compared to the average for the Doctoral Universities Carnegie Classification group.

Graduation rate is defined as the percentage of full-time, first-time students who received a degree or award within a specific percentage of "normal time" to completion for their program.

Graduation Rate by Race and Sex

Showing demographic groups with ≥ 5 graduating students.

Asian Female

Highest Graduation Rate (100%)

The student demographic with the highest graduation rate in 2023 at Wake Forest University is Female and Asian (100% graduation rate). Across all Doctoral Universities, Non-resident Alien Male students have the highest graduation rate (65.7%).

The department of education defines graduation rate as the percentage of full-time, first-time students who received a degree or award within 150% of "normal time" to completion.

The National Center for Education Statistics (NCES) categorizes any student who is studying in the United States on a temporary basis as a "Non-Resident Alien", and the graduation rate of those students is shown in the chart below. Additionally, 0% of graduates (0 students) did not report their race.

Race & Ethnicity by Share

Most Common Student Race or Ethnicity (2023)

White
1,960 degrees awarded
Black or African American
234 degrees awarded
Hispanic or Latino
201 degrees awarded

The most common race/ethnicity at Wake Forest University is white (1,960 degrees awarded). There were 8.38 times more white recipients than the next closest race/ethnicity group, black or african american (234 degrees).

0.852% of degree recipients (26 students) did not report their race.

Race & Ethnicity by Sex

Most Common Sex Demographic (2023)

White Female
1,070 degrees awarded
White Male
890 degrees awarded
Black or African American Female
137 degrees awarded

The most common race/ethnicity and sex grouping at Wake Forest University is white female (1,070 degrees awarded). There were 1.2 times more white female recipients than the next closest race/ethnicity group, white male (890 degrees).

Operations

Wake Forest University has an endowment valued at nearly $1.9B, as of the end of the 2023 fiscal year. The return on its endowment was of 116M (6.13%) compared to the 4.37% average return (19M on 434M) across all Doctoral Universities.

In 2023, Wake Forest University had a total salary expenditure of 2.07B. Wake Forest University employs 207 Professors, 199 Associate professors and 164 Assistant professors. Most academics at Wake Forest University are Male Professor (128), Male Associate professor (104), and Female Associate professor (95).

The most common positions for non-instructional staff at Wake Forest University are: Business and Financial Operations, with 454 employees, Office and Administrative Support, with 255 employees, and Community, Social Service, Legal, Arts, Design, Entertainment, Sports and Media with 239 employees.

Endowment

$1.9B

2023 Endowment

4.43%

growth from 2022

Wake Forest University has an endowment valued at about $1.9B, as of the end of the 2023 fiscal year. The endowment of Wake Forest University grew 4.43% from the previous year. The value of their endowment was $1.47B higher than than the median endowment of Doctoral Universities according to the Carnegie Classification grouping.

This line chart shows how the endowment at Wake Forest University (in red) compares to that of some similar universities.

The small bar chart below shows the endowment quintiles for all universities in the Doctoral Universities: Higher Research Activity Carnegie Classification grouping.

Salary Expenditure

$1.12B

2023 Salaries

10.7%

growth from 2022

In 2023, Wake Forest University paid a median of $1.12B in salaries, which represents 54.3% of their overall expenditure ($2.07B) and a 10.7% growth from the previous year. This is compared to a 4.93% growth between 2021 and 2022, and a 8.81% growth between 2020 and 2021.

The median for similar Doctoral Universities is 246M (41.5% of overall expenditures).

Instructional Salaries

$74.6M

Instructional Salaries

670

Number of Employees

In 2023, Wake Forest University paid a total of $74.6M to 670 employees working as instructors, which represents 6.64% of all salaries paid.

This is compared to a median of $6.13M (2.35%) for similar Doctoral Universities.

Occupations by Share

Professor

Most Common Instructor

207 Employees

Business and Financial Operations

Most Common Non-Instructional Employee

454 Employees

In 2023, the most common positions for instructional staff at Wake Forest University were Professor with 207 employees, Associate professor with 199 employees, and Assistant professor with 164 employees.

In 2023, the most common positions for non-instructional staff at Wake Forest University were Business and Financial Operations with 454 employees, Office and Administrative Support with 255 employees, and Community, Social Service, Legal, Arts, Design, Entertainment, Sports and Media with 239 employees.

Instructors by Academic Rank and Sex

Most Common Demographic (2023)

Male Professor
Male Associate professor
Female Associate professor

In 2023, the most common demographic for instructional staff at Wake Forest University was Male Professor with 128 employees, Male Associate professor with 104 employees, and Female Associate professor with 95 employees.

This chart shows the sex split between each academic rank present at Wake Forest University.

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