I got into UVA as an Echols Scholar, and I’m most happy about the priority course registration and the fact that my Gen Ed requirements are waived. However, I would have to graduate with quite a bit of student debt since the aid from UVA is not enough to cover my family’s financial situation. (We’ve already appealed and tried everything, and at this point, the aid isn’t changing). Surprisingly, Wake Forest gave me more aid than UVA, making it much cheaper even though I’m in-state for UVA. I’m not certain about my major yet, but I’m thinking of going into business. Are the Echols benefits at UVA worth taking on more loans/student debt?
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So UVA, who meets need, is more expensive in state than Wake, whose costs are multiples of UVA? wow.
If you are thinking of going into business, where you go likely won’t matter.
Wake is much smaller - so you may have the same advantages of UVA without needing to be in a special group.
What would you major in at each?
Good luck.
“At Wake Forest, we meet 100% of the demonstrated financial need of eligible admitted undergraduate students, with grants, scholarships, work-study, and subsidized loans.”
And UVA says this: * We meet 100% of your financial need. Apply by the annual March 1st deadline, and we will meet 100% of your demonstrated financial need through scholarships, grants, work-study and need-based loans.
So the point?
Now - how everyone determines is different…and that may be the difference.
It depends on how much the loans are. If the loans are more than you can afford, then Wake Forest is probably the better option. Wake Forest tends to offer better financial aid than most private schools. Love the school that loves you back.
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Just clarifying, since you only mentioned UVA as meeting need in your post.
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Just so we have all the data to make an informed decision. How much are we talking about for loans at UVA? How much of the FA from Wake are loans? What other options do you have?
From what you posted go to Wake and don’t look back. Excellent school.
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Neither is direct admit to their undergrad business program but I think Wake doesn’t turn as many students away as UVA.
From the federal loans in the financial aid package $5,500. My parents are willing to contribute up to $50,000 for all four years, and tuition is $26,000/yr right now. It might be less once my brother starts college two years from now, but I don’t know what that will look like yet. I’m planning on getting part-time jobs in college, but I will definitely be leaving with debt. That said, I am leaning in the direction of Wake right now. The only “downsides” (you could call them that) are: compared to UVA, I would have to take Wake’s gen ed divisional requirements. And I’m not sure about the diversity factor and Greek life at Wake. I know UVA has a lot of Greek life too, but I’m afraid it’ll feel much more prevalent at a smaller school.
Sounds like Wake is a no brainer:
- same advantages as a smaller program (Echols)
- prestigious (same as UVA and Echols)
- less expensive (in fact sounds like UVA is not affordable)
- less stringent business school admission
- excellent business prospects
- not much difference wrt Greek life
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Not familiar with Wake’s business program, but UVA McIntire has about 50-60% admit rate. Being an Echols scholar may be a plus there, if you want to do business, since you can waive gen eds and focus on McIntire requirements. Maybe compare against the admit rate for Wake business school?
So if your parents are in for $50k and tuition is $26k and add another $15k for room and board, where is the $110k plus coming from for the difference ?
Because if it’s loans, we need to do a 180 away from these two schools and while you still have time because $100k in debt is beyond bonkers for most any school.
What is the actual out of pocket cost - including loans - for each
In other words wake cost of attendance is $87620. Without inflation each year.
What is their grant to you - no loans, no work study
UVA matters by school but let’s say $40k all in. What’s their grant.
Leave loans out.
If your parents are paying $50k, what’s the 4 year Delta at each ?
Virginia resident here, with a child who will be heading off to Wake Forest in the fall and is planning to study business. UVA was at the top of his college list before his visit to Wake, which emerged on our radar screen later in the process. Unlike UVA (where he would know several students), we didn’t know anyone who attends or had graduated from Wake.
Obviously, UVA and Wake are both excellent schools, and you can’t go wrong with either. On my son’s visit to Wake, everything just really clicked for him. He had a great general tour, met with an administrator in the business school, and had a personal tour with a senior business major. He decided that he likes a smaller (but not too small) school, with a focus on undergrad teaching (and the greater opportunities that can come with that) and close relationships with professors. The campus is beautiful but more compact. Even though Wake is smaller, it’s an ACC school with a good sports atmosphere and school spirit. Students must live on campus for the first three years, and that seems to create more of a community (he knows students at UVA who have scrambled to figure out off-campus sophomore housing early in freshman year).
RE some of your concerns, my son was also wondering if Wake might be too Greek (although UVA has significant Greek life as well). There does seem to be a range of Greek organizations, from the more stereotypical to more low-key ones, the coed business fraternity, an open-enrollment community-service Greek org, etc. Plenty of students don’t go Greek, and a student told him that athletes are not allowed to join a fraternity/sorority. So it seems that there are a range of experiences.
Wake considers itself an LAC and has the divisional requirements, as you noted, but my son doesn’t think they seem too onerous. And certain classes may count toward your major. I think it can be good to take a range of classes and sometimes get outside your comfort zone. And the topics available at college will be much more wide-ranging than in high school. (By contrast, my other son is an engineering major at another university and had many transferable credits from high school (IB, AP, DE). I think he may graduate from college without ever having taken a class where he needs to read a book—much to the dismay of his former English major/writer mother!)
As has been mentioned, UVA and Wake both require applications (during sophomore year) to their business schools. Unlike some other schools that may just require prerequisite classes and a set GPA, this is a competitive process at both schools, not just a set bar to reach. The acceptance rate into Wake’s business school is currently 75 percent, so higher than UVA’s, which is around 50 percent. The business school administrator my son met with did mention that with more intense interest in Wake’s business school recently, the acceptance rate could fall. However, they are putting together specific suggested pathways for students who do not get into the business school. Many major in economics and have good employment opportunities, and Wake has a very popular entrepreneurship minor in the college (open to everyone).
The senior business student talked about all the business professors who have had quite impressive careers in finance, marketing, etc. and then come to teach at Wake. And he mentioned how accessible and encouraging the professors are. Many opportunities with required internships for business, collaborative projects, experts coming to campus, etc.
Just some of our impressions and why my son has chosen Wake Forest. Best of luck with your decision!
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Sorry that post was so long! I should also have mentioned our experience with financial aid. Wake Forest (which is need-aware but pledges to fully meet demonstrated need) has offered us considerable financial aid. Wake will be less expensive for us than our other son’s state school (even with some merit aid). We were only offered loans as part of the state school financial aid package. Our oldest graduated from a tippy-top OOS private university, which also offered considerable financial aid. So the state school will be the most expensive of three degrees!
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The issue here is with Wake at $87k and the parents contributing $12.5k per year, how much was provided in grants and this what does OP need to borrow ?
It may be that neither school is an option and a plan B is needed.
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Wake Forest, absolutely, over UVA in this case!
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From everything you’ve shared, Wake sounds like the best fit for you and your family.
Congratulations on two excellent choices! 
OP, you also said you were wondering about diversity at Wake. My impression is that both Wake and UVA could use more diversity and that both schools have said they are working on this/have improved this (in terms of racial, ethnic, socioeconomic diversity, etc.). I know that this year and in recent years, Wake has said they have admitted the most diverse class ever. As a private school, Wake has more geographic diversity than a state school. As an expensive school that is need aware and also meets demonstrated need (and without the extra deep pockets of the tippy top schools), Wake has less socioeconomic diversity but has been making investments and improving this.
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I loved both schools, so did my undergrad at Wake and got my MBA from UVA.
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Congratulations! Both schools are fantastic. We just returned from visiting WF and UVA. My son was also invited to be an Echols Scholar – which is hard to turn down for all the reasons you mentioned. But, at the end of the day, (my impression) is that all the Echols extras are to compete with private schools, and if the economics point to Wake seize the opportunity. I’m guessing at this point you are like us, comparing the smallest details in “Pro/Con” lists, but at the end of the day, both schools will open doors and provide a great education. I’m sure you will make the most of where you choose.