2014-15 Outside Scholarships Policy
Wake Forest encourages students to apply for outside scholarships for which they may be eligible. Outside scholarships count as student resources, becoming part of the package of financial aid. When need calculated under the federal methodology (FM need) is greater than
the offered aid package, outside scholarships are allowed to meet that difference. Once the offered aid package equals FM need, any portion of outside scholarship exceeding FM need results in a reduction of need-based student loans and work-study funds. In no case may aid
exceed the estimated cost of attendance.
Outside scholarship donors should include on the check the recipient’s name and the term(s)
for which the scholarship is intended. Checks should be payable to Wake Forest University (or co-payable to Wake Forest University and the student) and sent to the Office of Student Financial Aid, P.O. Box 7246, Winston-Salem, NC, 27109-7246. Checks delivered by donors to the student should be forwarded to the aid office. By submitting, or allowing donors to submit, checks to
Wake Forest, a student gives permission for Wake Forest to write the Wake Forest University student identification number on the face of the check. If funds are not received by Wake Forest in a timely manner from an outside scholarship donor, the student becomes responsible for
payment of charges previously deferred by the anticipated receipt of funds from the donor.