Cost of Attendance
How is Cost of Attendance determined?
Cost of Attendance is the total amount of aid, including scholarships, grants and loans, that you are eligible to receive for the entire year. The Cost of Attendance is derived based on living expenses in the Winston-Salem area and information from student surveys. The amount provided each year allows a medical student to live comfortably alone, not luxuriously. Cutting costs in any way, including getting a roommate, budgeting money for food and other expenses, and living as frugally as possible are recommended. It is not required that you accept the full Cost of Attendance each year. The amount you accept is flexible. You are allowed to return funds if you accept too much or request more if you run short, as long as you stay within the Cost of Attendance.
The Cost of Attendance varies for each class based on the number of months the student is considered enrolled and the types of expenses throughout the year, such as additional transportation costs incurred during third and fourth years.
The Cost of Attendance should be adjusted for 2013-2014 in March of 2013 by the Board of Trustees, which will allow the financial aid office to revise the student budget. Below you will find a breakdown of the Cost of Attendance for each class during 2012-2013. It is important to take note of the number of months the budget accounts for as well as distribution dates.
How do I manage this money?
The financial aid office is available to meet with you one-on-one to talk about managing these disbursements. Due to the strict amount allowed for each year, it is important that you have a spending plan. There are many creative ways to manage these funds; for example, you might pay rent for the entire semester when you receive your first disbursement and again in January. Another way to make your money last is to deposit your disbursement into a savings account and "pay" yourself monthly or bi-monthly. If you're interested in talking with our staff about any of these techniques please contact us.
WAKE FOREST SCHOOL OF MEDICINE
COST OF ATTENDANCE
Federal Loan Fees
Clinical Skills Exam Travel
Cost of attendance budgets include only those expenses associated with the student. Living expenses for a spouse and/or other dependents are not recognized as part of the student's standard cost of attendance. The cost of attendance, as defined by the school, represents the maximum amount of student financial aid a student can receive for the academic year.
First Year budget is based on 10 months; Distribution dates: 7/8/13 and 12/30/13
Second Year budget is based on 12 months; Distribution dates: 8/13/13 and 12/30/13
Third Year budget is based on 11 months; Distribution dates: 8/20/13 and 12/30/13
Fourth Year budget is based on 10 months; Distribution dates: 7/9/13 and 12/30/13
Federal Regulations allow for living expenses for the actual period of enrollment only.
The Miscellaneous Category represents discretionary personal living expenses such as entertainment, clothing, household and personal expenses.
Student Budgets are subject to change without notice