The Magnolia Scholars Program enrolls and encourages approximately 30 first-generation domestic students in each class through graduation. Accepted students are considered for the Magnolia Scholars Program based upon essays, recommendations and interviews included in their application for admission. Magnolia Scholars represent a wide range of racial and ethnic diversity and are welcome from all over the country.

The Magnolia Scholars Program benefits from philanthropy that facilitates access and opportunity in several forms: student scholarships assisting with tuition, fees, room, board and books; summer study grants; study abroad/away experiences; undergraduate research opportunities; travel to academic conferences; and participation with internship opportunities.

The Program partners with other offices, provides workshops, and organizes events so Scholars learn and become comfortable in their new academic home. Furthermore, students are offered advising and peer-to-peer mentoring so they can take advantage of all the opportunities that Wake Forest has to offer.