Bentley University is a private college located just outside of Boston in Waltham, Mass. The institution, previously known as Bentley College until a name change in 2008, offers a nationally-recognized career center and a well-respected business school.
In fact, 97% of its 2017 graduates found employment or continued their education after leaving college, according to Bentley University employment statistics. And while the median starting salary is $57,000, students are making $80,600 on average 10 years after graduating, according to College Scorecard.
Attending Bentley can put graduates ahead in their education and career pursuits — but it might not come cheap. Bentley University’s annual costs of attendance were $66,200 in 2018-19. At that price, college applicants considering this school will need a solid plan for how to pay for Bentley University if they want to keep costs and student debt affordable.
Luckily, students and their families don’t necessarily have to pay that full annual cost out of their own pockets. Bentley University student aid can help cover costs, whether through free money for college such as scholarships, grants or student loans — or all.
Use this guide to paying for Bentley University to figure out the steps you need to take to access this college funding and assistance.
|Costs of attending Bentley University|
|Annual tuition and fees||$49,880|
|Annual room and board||$16,320|
|Total annual cost||$66,200|
|Annual net cost (after aid)||$34,207|
|Median debt after graduation||$26,500|
|All info current as of Sept. 25, 2018. Sources: Bentley University, College Scorecard|
Applying for student aid: the FAFSA and CSS Profile
To get student aid at Bentley University, you’ll need to complete two different aid applications: the Free Application for Federal Student Aid (FAFSA) and the CSS Profile.
Filing the FAFSA
The FAFSA is the application you need to submit to access student aid such as federal grants, work-study and student loans. These types of student aid will likely be crucial to your plan to pay for Bentley University, as 89% of students at similar private nonprofit schools receive some form of federal student aid, according to the National Center for Education Statistics.
You’ll need to head to FAFSA.ed.gov to start the process. You can file your FAFSA as early as Oct. 1 for the following academic year. Since some funds are first-come, first-served, you’ll likely want to submit your application in a timely manner.
If you’re under 24, you may need to have a parent complete and submit a portion of the FAFSA. You’ll also need to indicate the schools you want your FAFSA information shared with — make sure you add Bentley University. (Its FAFSA code is 002124.)
Submitting a CSS Profile
The CSS Profile is a separate and supplemental aid application that is administered by the not-for-profit organization, the College Board. Many private scholarship programs and colleges, including Bentley University, require students to complete and submit a CSS Profile to be considered for a variety of need-based scholarships and grants offered by the college itself.
The CSS Profile will cost $25 to complete and submit to one college, with a $16 fee for each additional school with which you wish to share your CSS Profile, although this fee can be waived for some students with financial hardship. You can add Bentley University with its CSS code 3096.
Students should be aware of Bentley University deadlines to file aid applications, which apply to both the FAFSA and CSS Profile.
- Nov. 15 for early decision applicants
- Jan. 15 for regular decision application
- April 1 for transfer students
Note that you must submit these forms by these dates to be considered for Bentley’s institutional aid. However, you might still be eligible for state or federal aid even if you miss the above deadlines.
You should also check out Bentley University’s list of supplemental aid forms to see if you need to file any of these additional documents.
Grants for Bentley University students
Bentley University uses the information you provide through the FAFSA and CSS Profile to evaluate your eligibility for student aid. You’ll receive aid based on your family’s ability to afford and pay for the expenses of attending Bentley.
One of the best kinds of need-based aid is grants. A grant is gift aid, which is basically free money you’re given to pay for college that won’t need to be repaid. This type of aid is funded by a variety of organizations, from federal and state college grants down to institutional grants offered by college themselves.
Here are some of the top Bentley University awards:
- Bentley University Grants are available to cover any portion of a student’s financial need not covered by other forms of gift aid, such as other federal grants, state grants or Bentley scholarships.
- Falcon Grants are awarded to student athletes who demonstrate a financial need (except basketball and ice hockey athletes might also receive merit-based aid).
- MASSGrant is a state college grant offered to undergraduate students who are residents of Massachusetts and meet the need-based eligibility requirements. Students who file a FAFSA by May 1 are automatically considered for a MASSGrant for the following school year.
- Part-Time Grant Program offers gift aid awards starting at $200 to qualifying part-time students who are residents of Massachusetts.
- Pell Grants are need-based, federal college aid that you’re considered for if you submit a FAFSA. If you have a need for this aid, you can receive up to $6,095 for the 2018-19 academic year.
Scholarships for Bentley University students
Scholarships are another form of gift aid that helps lower the net costs of attending Bentley University.
Unlike grants, which are primarily need-based, scholarships might be awarded based on need or merit, or sometimes both. Merit-based scholarships might be given to students who have high academic performance, outstanding athletic abilities, involvement in extracurriculars or meet other criteria.
Finding and applying for scholarships can help you get hundreds or thousands of dollars in free funds to use for college. Some good places to start your search include Bentley’s own site, which posts a list of outside scholarships and multicultural scholarships. You can also use other scholarship search sites such as Scholly or Fastweb.
To get you started, here are a few of the top Bentley University scholarships:
- Bentley academic scholarships are merit-based awards that range from $5,000 each year up to $30,000, and they are renewable. First-year applicants are automatically considered for these merit-based scholarships, based on their academic achievement.
- Women’s Leadership Award is granted to first-year female students entering the Center for Women and Business who demonstrate high leadership achievement. This scholarship requires completing a separate application. Recipients must participate in the Women’s Leadership Program and can get $10,000 per year.
- Phi Theta Kappa Scholarships award $5,000 to 10 recipients each year. Applicants must be members of Phi Theta Kappa honor society and be transfers to Bentley University from a community college.
- Give a Year Scholarship program awards a $20,000 tuition credit toward certain Bentley students for senior year after they spend a year volunteering with the City Year Corps.
The final non-loan form of student aid is federal work-study, which as the name implies, allows students to earn student aid funds through work. A student interested in this program should indicate so when submitting the FAFSA. If eligible, work-study will be listed as part of their aid package in their financial award letter from Bentley University.
Recipients of a work-study award must apply for a qualifying work opportunity through Bentley’s Student Employment Office and will be given preference in consideration for these jobs. The hourly wage for on-campus work-study jobs starts at $11 per hour.
Of course, you don’t have to get a federal work-study award to apply for on- or off-campus jobs. Holding a part-time job can be a great way for students both to generate additional college funds and to gain valuable work experience.
Federal student loans
Before considering loans, students should max out all opportunities to fund their college costs through grants, scholarships, work-study and other part-time jobs, and their own college savings. But with the high price of attending Bentley, these sources might not be enough to cover all educational expenses.
In these cases, the next option for many students might be to borrow for college. Federal student loans provide an easy and inexpensive way to do so, and they come with a number of important benefits:
- Access: Students don’t need credit to qualify, thanks to the fact that these loans are guaranteed by the federal government.
- Affordability: Every student who takes out a federal student loan in a given academic year pays the same low, fixed rate and affordable loan fees.
- Assurance: Federal student loans offer several protections that help borrowers manage student loan repayment and avoid negative outcomes such as delinquency or default. Enrolling in income-driven repayment plans can lower monthly payments, for example, while deferment and forbearance pause payments during a hardship.
Even when choosing among your federal student loan options, however, it’s still important to make a wise and informed decision. Here’s a closer look at the federal student loans available to undergraduate students.
|Federal Student Loan||Who can use it?||Interest rate (2018-19)||One-time loan fee||Interest is paid in deferment||Annual loan limit|
|Subsidized||Undergraduate students with a demonstrated financial need||5.05%||1.062%||Yes||Up to $5,500 per school year|
|Unsubsidized||Undergraduate students||5.05%||1.062%||No||Up to $7,500 per school year for dependent students
Up to $12,500 per school year for independent students
|PLUS||Graduate students and parents of undergraduate students||7.60%||4.248%||No||Cost of attendance, after all other student aid is applied|
|All information current as of Sept. 25, 2018. Source: Federal Student Aid|
Bentley University student loans and payment options
Outside of federal student loans, students have some other options they might consider. One is enrolling in a Bentley University payment plan, which breaks up the educational costs of a semester and spreads them out over five months. Making smaller payments can be easier and more affordable for many college students and their families. This payment plan is not a loan, and won’t carry any interest charges but will incur a $35 enrollment fee each semester.
Students should also see if they qualify for the Massachusetts No Interest Loan. This loan program allows students with a demonstrated need to borrow between $1,000 and $4,000 in 0% interest student loans. Students who submit a FAFSA by the May 1 Massachusetts student aid deadline are automatically considered for a Massachusetts No Interest Loan.
Private student loans at Bentley University
Even after exhausting federal student loan options, it’s possible that some students will still need additional financing to pay for their education at Bentley. In such a case, private student loans from banks, credit unions and online lenders can be a good option.
Taking out a private student loan is more difficult than getting federal student loans. Applicants will need a good credit history and other sound financials to get approved. In fact, most college students won’t qualify for a private student loan on their own and will need the help of a cosigner to borrow this way.
Private student loans can also vary widely in their costs, with each lender offering different student loan rates, fees and terms. They are often (but not always) a more expensive way to borrow than federal student loans.
They also don’t offer the same borrower protections, such as the option to change repayment plans or pause payments through deferment or forbearance.
Bentley University students should carefully weigh the pros and cons of private student loans to decide if they are a wise financing option for them. If you chose to apply for private student loans, make sure to research and compare several lenders to find the best private student loans that meet your needs.
The bottom line: Paying for Bentley University
Students attending Bentley University will have to come up with around $66,200 each year to cover their basic educational and living expenses. It’s a tall task, but there are many sources of student aid and funds that can help make that possible.
Start first with finding, applying for and securing as much gift aid as possible. Take advantage of federal and state college grants, as well as private and local scholarships. After that, see what you can pay out of pocket. You can use college savings, your own earnings or contributions from family to meet some of your costs.
Finally, many students’ plans for how to pay for Bentley University will include student loans. Borrow with need-based student loans first, such as the Massachusetts No Interest Loan or the Direct Subsidized Loan, and supplement these with other federal or private student loans.
By looking ahead and starting to manage costs now, you can chart a path to pay for Bentley University without sacrificing your financial future.
Interested in refinancing student loans?Here are the top 6 lenders of 2019!
|Lender||Variable APR||Eligible Degrees|
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1 Important Disclosures for Earnest.
To qualify, you must be a U.S. citizen or possess a 10-year (non-conditional) Permanent Resident Card, reside in a state Earnest lends in, and satisfy our minimum eligibility criteria. You may find more information on loan eligibility here: https://www.earnest.com/eligibility. Not all applicants will be approved for a loan, and not all applicants will qualify for the lowest rate. Approval and interest rate depend on the review of a complete application.
Earnest fixed rate loan rates range from 3.36% APR (with Auto Pay) to 7.82% APR (with Auto Pay). Variable rate loan rates range from 2.41% APR (with Auto Pay) to 6.99% APR (with Auto Pay). For variable rate loans, although the interest rate will vary after you are approved, the interest rate will never exceed 8.95% for loan terms 10 years or less. For loan terms of 10 years to 15 years, the interest rate will never exceed 9.95%. For loan terms over 15 years, the interest rate will never exceed 11.95% (the maximum rates for these loans). Earnest variable interest rate loans are based on a publicly available index, the one month London Interbank Offered Rate (LIBOR). Your rate will be calculated each month by adding a margin between 1.82% and 5.50% to the one month LIBOR. The rate will not increase more than once per month. Earnest rate ranges are current as of April 17, 2019, and are subject to change based on market conditions and borrower eligibility.
Auto Pay discount: If you make monthly principal and interest payments by an automatic, monthly deduction from a savings or checking account, your rate will be reduced by one quarter of one percent (0.25%) for so long as you continue to make automatic, electronic monthly payments. This benefit is suspended during periods of deferment and forbearance.
The information provided on this page is updated as of 04/17/2019. Earnest reserves the right to change, pause, or terminate product offerings at any time without notice. Earnest loans are originated by Earnest Operations LLC. California Finance Lender License 6054788. NMLS # 1204917. Earnest Operations LLC is located at 302 2nd Street, Suite 401N, San Francisco, CA 94107. Terms and Conditions apply. Visit https://www.earnest.com/terms-of-service, email us at email@example.com, or call 888-601-2801 for more information on our student loan refinance product.
© 2018 Earnest LLC. All rights reserved. Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by or agencies of the United States of America.
2 Important Disclosures for SoFi.
3 Important Disclosures for Laurel Road.
Laurel Road Disclosures
However, if the borrower chooses to make monthly payments automatically by electronic funds transfer (EFT) from a bank account, the fixed rate will decrease by 0.25%, and will increase back up to the regular fixed interest rate described in the preceding paragraph if the borrower stops making (or we stop accepting) monthly payments automatically by EFT from the designated borrower’s bank account.
However, if the borrower chooses to make monthly payments automatically by electronic funds transfer (EFT) from a bank account, the variable rate will decrease by 0.25%, and will increase back up to the regular variable interest rate described in the preceding paragraph if the borrower stops making (or we stop accepting) monthly payments automatically by EFT from the designated borrower’s bank account.
All credit products are subject to credit approval.
Laurel Road began originating student loans in 2013 and has since helped thousands of professionals with undergraduate and postgraduate degrees consolidate and refinance more than $4 billion in federal and private school loans. Laurel Road also offers a suite of online graduate school loan products and personal loans that help simplify lending through customized technology and personalized service. In April 2019, Laurel Road was acquired by KeyBank, one of the nation’s largest bank-based financial services companies. Laurel Road is a brand of KeyBank National Association offering online lending products in all 50 U.S. states, Washington, D.C., and Puerto Rico. All loans are provided by KeyBank National Association, a nationally chartered bank. Member FDIC. For more information, visit www.laurelroad.com.
4 Important Disclosures for LendKey.
Refinancing via LendKey.com is only available for applicants with qualified private education loans from an eligible institution. Loans that were used for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not eligible for refinancing with a lender via LendKey.com. If you currently have any of these exam preparation loans, you should not include them in an application to refinance your student loans on this website. Applicants must be either U.S. citizens or Permanent Residents in an eligible state to qualify for a loan. Certain membership requirements (including the opening of a share account and any applicable association fees in connection with membership) may apply in the event that an applicant wishes to accept a loan offer from a credit union lender. Lenders participating on LendKey.com reserve the right to modify or discontinue the products, terms, and benefits offered on this website at any time without notice. LendKey Technologies, Inc. is not affiliated with, nor does it endorse, any educational institution.
5 Important Disclosures for CommonBond.
Offered terms are subject to change. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900). If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, the loan term selected and will be within the ranges of rates shown. All Annual Percentage Rates (APRs) displayed assume borrowers enroll in auto pay and account for the 0.25% reduction in interest rate. All variable rates are based on a 1-month LIBOR assumption of 2.45% effective May 10, 2019.
6 Important Disclosures for Citizens Bank.
Citizens Bank Disclosures
|2.41% – 6.99%1||Undergrad & Graduate|
|2.41% – 7.89%2||Undergrad & Graduate|
|2.43% – 6.65%3||Undergrad & Graduate|
|2.38% – 6.81%4||Undergrad & Graduate|
|2.41% – 7.95%5||Undergrad & Graduate|
|2.60% – 9.60%6||Undergrad & Graduate|