78% of enrollees are from Out of state. Still could mean that the largest number of applicants are NC residents but they would only have 22% of students subject to the income level test for free tuition.
Haha. My wife and I have joked about one of us quitting work to qualify for these tuition programs. But it wouldn't actually make sense for a bunch of reasons.
In addition to this, I’d bet they have data showing their North Carolina-raised alums are more likely to live in North Carolina post-college AND be more generous to Wake overall. So, create more alums from North Carolina.
Kind of like football recruiting. Keeping the talented in-state students closer to home has all sorts of collateral benefits. Probably also helps on the political front.
I'm not sure if you're giving your alma mater quite enough credit. This isn't like we'll give you the first year for free to get kids in the door. I just don't think free tuition and living expenses is ever going to pay back in a cold business calculus either in the form of donations or other ancillary services.
I'm pretty sure 529 will count as assets.
Oh well, here's hoping my grandson gets accepted by his dream school this year ( UNC ). His high school has nominated him for the Morehead-Cain scholarship which I hope will add weight to his application. I don't expect he will be granted the Morehead but if he is, then I will be dancing on air
It certainly will. I have accounts set up for my nieces/nephew but they are in my name and are not 529 plans. I set it up this way so it won’t limit the financial aid they could get. I will just deduct the capital gains taxes from the amount we are able to give them and expect they will still come out ahead given they should qualify for substantially more financial aid since their parents (my wife’s brother and his wife) live pretty much paycheck to paycheck and have few assets.
Pretty damn nice aunt and uncle!
This is great because my primary residence and retirement accounts are pretty much all I have, but they're worth a lot. Right now I'm pretty much just trying to break even to 59.5 to start drawing penalty free. Free tuition would help this plan a lot.Assets are also taken into consideration:
North Carolina Gateway to Wake Forest University | Student Financial Aid | Wake Forest University
Wake Forest University announced that undergraduate students from North Carolina whose families make less than $200,000 per year will attend tuition-free, beginning in the fall of 2026.financialaid.wfu.edu
The new initiative applies to North Carolina families with typical assets who apply for financial aid.
Program eligibility is based on total income, assuming “typical assets.” What does that mean?
Typical assets are determined internally and exclude the value of one’s primary residence and retirement accounts from consideration.
