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Wake Forest offers to meet the full demonstrated need of all regularly admitted applicants. What does this mean?

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Wake Forest offers to meet the full demonstrated need of all regularly admitted applicants. What does this mean?

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For those regular decision applicants who meet the financial aid deadlines, Wake Forest will meet 100% of demonstrated need through a combination of scholarships (grants based on merit), gift aid (financial aid that does not have to be repaid), loans (borrowed money that must be repaid with interest), and work-study (money students earn from jobs to help pay for educational expenses). Beginning with freshmen entering in Fall 2008, students from families with annual income of less than $40,000 will have their loans capped at $4,000 per year.

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