How to Pay for Bentley University: Financial Aid and Student Loan Options

 October 26, 2020
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Bentley University financial aid

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Considering going to Bentley University? Attending Bentley can help you attain your educational and career pursuits. But this private college located in Waltham, Mass., doesn’t come cheap, so you may need Bentley University financial aid.

For the 2021-2021 school year, Bentley University tuition and fees alone add up to $53,790, and the total cost of attendance is estimated at over $72,000. Luckily, Bentley University financial aid can help cover these costs through scholarships, grants and student loans.

Use this guide to paying for Bentley University to figure out the steps you need to take to access this college funding and assistance.

How to apply for Bentley University financial aid

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 out the FAFSA

The FAFSA is the application you need to submit to access student aid, such as federal grants, work study and student loans.

You’ll need to head to to start the process. You can file your FAFSA as early as Oct. 1 for the following academic year. Because 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. 7 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.

Financial aid options for Bentley University

Here are your options in terms of getting financial aid for Bentley University. They are listed roughly in order of preference, though what’s best for one student might not be best for another, to be sure to review all options and make an informed decision.

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 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 to institutional grants offered by colleges themselves.

Here are some of the top Bentley University grants:

  • 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.
  • Donor-Sponsored Grants: A grant award you receive from Bentley may include one of funds provided by alumni, family and friends of the college. There is no need to formally apply for this grant; the Bentley University financial aid office will determine if you are eligible. If you do get the award, you must complete a student profile form in order to receive the funds.
  • Falcon Grants are awarded to student athletes who demonstrate a financial need (basketball and ice hockey athletes might also receive merit-based aid).
  • State grants and scholarships are offered to undergraduate students who are residents of Massachusetts and meet the need-based eligibility requirements. One of them is the MASSGrant for Massachusetts residents. Students who file a FAFSA and are Massachusetts residents are automatically considered for a MASSGrant by Bentley. If you live in another state, your own state-aid program may be portable. Our complete guide to state financial aid grants can give you additional information.

And don’t forget the federal grants available for all U.S. students, including Bentley University students:

  • Federal Pell Grants: Undergrads with demonstrated financial need may be eligible for Pell Grants. The award amount can be as much as $6,345.
  • Federal Supplemental Educational Opportunity Grants (FSEOG): Students can earn up to $4,000 a year based on financial need.

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 funds to use for college. Some good places to start your search include Bentley’s own site, which posts a list of outside scholarships.

Now here are a few of the top Bentley University scholarships:

  • Bentley academic scholarships are merit-based awards. First-year applicants are automatically considered for these merit-based scholarships, based on their academic achievement. Transfer students may also receive an academic scholarship.
  • The Women’s Leadership Award is granted to first-year female students entering the Center for Women and Business program 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 transfer students. Applicants must be active members of Phi Theta Kappa honor society.
  • Raise.Me Scholarships: This micro-scholarship program can start as soon as the freshman year of high school, with eligibility based on GPA and school attendance. Students from any U.S. high school may be eligible. If you are admitted to Bentley, the micro-scholarship amounts raised during your time in high school may be used as a minimum of grant and/or scholarship aid you may receive from the school.
  • Bentley also participates in the Yellow Ribbon Program in support of veterans and their families. Ten eligible students each year may receive $5,000 for undergraduate studies, and four graduate students may receive $4,000. You must complete the Yellow Ribbon application to apply.

Federal work study

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.

Bentley students with a work-study award are given preference when it comes to applying for on-campus positions, and some select off-campus jobs. However, 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:

  • Income-driven repayment: If you have a low income after graduation, you might qualify for a repayment plan based on your earnings, allowing you to make manageable payments without falling behind.
  • Deferment and forbearance: With federal student loans, you may qualify for deferment and forbearance if you run into economic hardship.
  • Fixed interest rates: Federal loan interest rates are set each year, and remain fixed for the whole loan term.
  • No credit check: For most (although not all) federal loans, you don’t have to go through a credit check to qualify.
  • Potential for federal loan forgiveness: Programs such as Public Service Loan Forgiveness (PSLF) and forgiveness while on income-driven repayment plans, as well as access to state-level forgiveness programs, can provide a way to discharge some of your federal debt.

Options for federal loans include:

  • Direct subsidized loans: These are need-based loans that are available to undergrads. The government covers interest charges while you’re in school, during your grace period and during any periods of deferment.
  • Direct unsubsidized loans: Undergraduate and graduate students are eligible for direct unsubsidized loans, regardless of their financial need. You’ll pay interest while loans are deferred, including while you’re still in school.
  • Direct PLUS loans: Graduate students and parents can qualify for PLUS loans, but unlike with other direct loan programs, you can’t have bad credit. Interest isn’t subsidized on these loans.
  • Direct consolidation loans: These loans allow you to combine all your federal loans into one loan with one servicer.

There are annual and aggregate limits on federal loans, which you can find here.

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.

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 per academic year with 0% interest. Students who submit a FAFSA are automatically considered for this loan.

Private student loans for 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. Some 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 can be a more expensive way to borrow than federal student loans, although you also may be able to get a lower interest rate, depending on your financial profile. Private loans may also not 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 choose to apply for private student loans, make sure to research and compare several lenders to find the best private student loans for meeting your needs.

Final thoughts on paying for Bentley University

There are many sources of student aid and funds that can help cut your costs as a Bentley University student.

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.

You may also use student loans to help you pay for Bentley University. Borrow with need-based student loans first if you can, 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. If you have any questions about paying for Bentley University, you can contact student financial services at 781-891-3441.

For additional help, please see our guide to paying for college and how tuition works.

Rebecca Stropoli contributed to this report.

Interested in refinancing student loans?

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LenderVariable APREligible Degrees 
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1.86% – 6.01%Undergrad
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2.13% – 5.25%8Undergrad
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Visit PenFed

Check out the testimonials and our in-depth reviews!
1 Important Disclosures for Splash Financial.

Splash Financial Disclosures

Terms and Conditions apply. Splash reserves the right to modify or discontinue products and benefits at any time without notice. Rates and terms are also subject to change at any time without notice. Offers are subject to credit approval. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet applicable underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates are reserved for the highest qualified borrowers. If approved, your actual rate will be within a range of rates and will depend on a variety of factors, including term of loan, a responsible financial history, income and other factors. Refinancing or consolidating private and federal student loans may not be the right decision for everyone. Federal loans carry special benefits not available for loans made through Splash Financial, for example, public service loan forgiveness and economic hardship programs, fee waivers and rebates on the principal, which may not be accessible to you after you refinance. The rates displayed may include a 0.25% autopay discount

The information you provide to us is an inquiry to determine whether we or our lenders can make a loan offer that meets your needs. If we or any of our lending partners has an available loan offer for you, you will be invited to submit a loan application to the lender for its review. We do not guarantee that you will receive any loan offers or that your loan application will be approved. Offers are subject to credit approval and are available only to U.S. citizens or permanent residents who meet applicable underwriting requirements. Not all borrowers will receive the lowest rates, which are available to the most qualified borrowers. Participating lenders, rates and terms are subject to change at any time without notice.

To check the rates and terms you qualify for, Splash Financial conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, the lender will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

Splash Financial and our lending partners reserve the right to modify or discontinue products and benefits at any time without notice. To qualify, a borrower must be a U.S. citizen and meet our lending partner’s underwriting requirements. Lowest rates are reserved for the highest qualified borrowers. This information is current as of June 1, 2021.

2 Rate range above includes optional 0.25% Auto Pay discount. Important Disclosures for Earnest.

Earnest Disclosures

Interest Rate Disclosure

Actual rate and available repayment terms will vary based on your income. Fixed rates range from 2.44% APR to 5.79% APR (excludes 0.25% Auto Pay discount). Variable rates range from 1.88% APR to 5.64% APR (excludes 0.25% Auto Pay discount). For variable rate loans, although the interest rate will vary after you are approved, the interest rate will never exceed 36% (the maximum allowable for these loans). Earnest variable interest rate student loan refinance 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 2.04% and 5.8% to the one month LIBOR. Earnest rate ranges are current as of 6/8/2021, and are subject to change based on market conditions.

Auto Pay Discount Disclosure

You can take advantage of the Auto Pay interest rate reduction by setting up and maintaining active and automatic ACH withdrawal of your loan payment. The interest rate reduction for Auto Pay will be available only while your loan is enrolled in Auto Pay. Interest rate incentives for utilizing Auto Pay may not be combined with certain private student loan repayment programs that also offer an interest rate reduction. For multi-party loans, only one party may enroll in Auto Pay.

Student Loan Refinancing Loan Cost Examples

These examples provide estimates based on payments beginning immediately upon loan disbursement. Variable APR: A $10,000 loan with a 20-year term (240 monthly payments of $72) and a 5.89% APR would result in a total estimated payment amount of $17,042.39. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed APR: A $10,000 loan with a 20-year term (240 monthly payments of $72) and a 6.04% APR would result in a total estimated payment amount of $17,249.77. Your actual repayment terms may vary.Terms and Conditions apply. Visit https://www.earnest. com/terms-of-service, e-mail us at [email protected], or call 888-601-2801 for more information on our student loan refinance product.

Earnest Loans are made by Earnest Operations LLC or One American Bank, Member FDIC. Earnest Operations LLC, NMLS #1204917. 535 Mission St., Suite 1663, San Francisco, CA 94105. California Financing Law License 6054788. Visit for a full list of licensed states. For California residents (Student Loan Refinance Only): Loans will be arranged or made pursuant to a California Financing Law License.

One American Bank, 515 S. Minnesota Ave, Sioux Falls, SD 57104. Earnest loans are serviced by Earnest Operations LLC with support from Navient Solutions LLC (NMLS #212430). One American Bank and Earnest LLC and its subsidiaries are not sponsored by or agencies of the United States of America.

© 2021 Earnest LLC. All rights reserved.

3 Important Disclosures for CommonBond.

CommonBond Disclosures

Offered terms are subject to change and state law restriction. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900), NMLS Consumer Access. 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 0.15% effective Jan 1, 2021 and may increase after consummation.

4 Important Disclosures for Laurel Road.

Laurel Road Disclosures

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

As used throughout these Terms & Conditions, the term “Lender” refers to KeyBank National Association and its affiliates, agents, guaranty insurers, investors, assigns, and successors in interest.

  1. Checking your rate with Laurel Road only requires a soft credit pull, which will not affect your credit score. To proceed with an application, a hard credit pull will be required, which may affect your credit score.
  2. Savings vary based on rate and term of your existing and refinanced loan(s). Refinancing to a longer term may lower your monthly payments, but may also increase the total interest paid over the life of the loan. Refinancing to a shorter term may increase your monthly payments, but may lower the total interest paid over the life of the loan. Review your loan documentation for total cost of your refinanced loan.
  3. After loan disbursement, if a borrower documents a qualifying economic hardship, we may agree in our discretion to allow for full or partial forbearance of payments for one or more 3-month time periods (not to exceed 12 months in the aggregate during the term of your loan), provided that we receive acceptable documentation (including updating documentation) of the nature and expected duration of the borrower’s economic hardship. During any period of forbearance interest will continue to accrue. At the end of the forbearance period, any unpaid accrued interest will be capitalized and be added to the remaining principle amount of the loan.
  4. Automatic Payment (“AutoPay”) Discount: if the borrower chooses to make monthly payments automatically from a bank account, the interest rate will decrease by 0.25% and will increase back if the borrower stops making (or we stop accepting) monthly payments automatically from the borrower’s bank account. The 0.25% AutoPay discount will not reduce the monthly payment; instead, the discount is applied to the principal to help pay the loan down faster.

Assumptions: Repayment examples above assume a loan amount of $10,000 with repayment beginning immediately following disbursement. Repayment examples do not include the 0.25% AutoPay Discount.

Annual Percentage Rate (“APR”): This term represents the actual cost of financing to the borrower over the life of the loan expressed as a yearly rate.

Interest Rate: A simple annual rate that is applied to an unpaid balance.

Variable Rates: The current index for variable rate loans is derived from the one-month London Interbank Offered Rate (“LIBOR”) and changes in the LIBOR index may cause your monthly payment to increase. Borrowers who take out a term of 5, 7, or 10 years will have a maximum interest rate of 9%, those who take out a 15 or 20-year variable loan will have a maximum interest rate of 10%.


This information is current as of April 29, 2021. Information and rates are subject to change without notice.

5 Important Disclosures for SoFi.

SoFi Disclosures

Fixed rates range from 2.49% APR to 6.94% APR with a 0.25% autopay discount. Variable rates from 1.74% APR to 6.59% APR with a 0.25% autopay discount. Unless required to be lower to comply with applicable law, Variable Interest rates on 5-, 7-, and 10-year terms are capped at 8.95% APR; 15- and 20-year terms are capped at 9.95% APR. Your actual rate will be within the range of rates listed above and will depend on the term you select, evaluation of your creditworthiness, income, presence of a co-signer and a variety of other factors. Lowest rates reserved for the most creditworthy borrowers. For the SoFi variable-rate product, the variable interest rate for a given month is derived by adding a margin to the 30-day average SOFR index, published two business days preceding such calendar month, rounded up to the nearest one hundredth of one percent (0.01% or 0.0001). APRs for variable-rate loans may increase after origination if the SOFR index increases. The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. This benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. The benefit lowers your interest rate but does not change the amount of your monthly payment. This benefit is suspended during periods of deferment and forbearance. Autopay is not required to receive a loan from SoFi.

6 Important Disclosures for LendKey.

LendKey Disclosures

Refinancing via 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 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 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.

Subject to floor rate and may require the automatic payments be made from a checking or savings account with the lender. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is canceled, any increase will take the form of higher payments. The lowest advertised variable APR is only available for loan terms of  5 years and is reserved for applicants with FICO scores of at least 810.

As of 11/15/2021 student loan refinancing rates range from 1.90% APR – 5.25% Variable APR with AutoPay and 2.49% APR – 7.75% Fixed APR with AutoPay.

7 Important Disclosures for Navient.

Navient Disclosures

1. NaviRefi loans are made by Earnest Operations LLC, a member of the Navient family of companies, subject to individual approval and underwriting criteria. California residents only: Loans made or arranged pursuant to a California Finance Lenders Law license. Additional terms and conditions apply.

– To qualify, you must be a U.S. citizen or non-citizen permanent resident of the United States, reside in a state we lend in, and satisfy our minimum eligibility criteria. You may find more information on loan eligibility here: Not all applicants will be approved for a loan, and not all applicants will qualify for the lowest rate. Loan terms are subject to eligibility. Approval and interest rate depend on the review of a complete application. Loan approval is subject to confirmation that your debt-to-income, free cash flow, credit history and application information meet the minimum requirements. You must have a minimum FICO score to be considered.

– You can choose between fixed and variable rates. Fixed interest rates are 2.75% – 6.04% APR (2.50% – 5.79% APR with Auto Pay discount). Starting variable interest rates are 2.13% – 5.89% APR (1.88% – 5.64% APR with Auto Pay discount). Variable rates are based on an index, the 30-day Average Secured Overnight Financing Rate (SOFR) plus a margin. Variable rates are reset monthly based on the fluctuation of the index. We do not currently offer variable rate loans in AK, CO, CT, HI, IL, KY, MA, MN, MS, NH, OH, OK, SC, TN, TX, and VA.

– You can take advantage of the 0.25% Auto Pay interest rate reduction by setting up and maintaining active and automatic ACH withdrawal of your loan payment. The interest rate reduction for Auto Pay will be available only while your loan is enrolled in Auto Pay. Interest rate incentives for utilizing Auto Pay may not be combined with certain private student loan repayment programs that also offer an interest rate reduction. NaviRefi rate ranges are current as of June 1, 2021 and are subject to change based on market conditions and borrower eligibility.

– Loan cost examples: These examples provide estimates based on payments beginning immediately upon loan disbursement. Variable APR: A $10,000 loan with a 20-year term (240 monthly payments of $72) and a 5.89% APR would result in a total estimated payment amount of $17,042. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed APR: A $10,000 loan with a 20-year term (240 monthly payments of $72) and a 6.04% APR would result in a total estimated payment amount of $17,250. Your actual repayment terms may vary.

– The information provided on this page is updated as of 06/1/2021. Earnest Operations LLC reserves the right to modify or discontinue (in whole or in part) this loan program and its associated services and benefits at any time without notice. Check for the most up-to-date information. Terms and Conditions apply. Call 855-284-4893 for more information on our student loan refinance product.

– Earnest Operations LLC – NMLS #1204917, CA CFL #6054788 – 535 Mission St., Suite 1663, San Francisco, CA 94105.
Navient Solutions, LLC – NMLS #212430 – 123 Justison St., Wilmington, DE 19801. Visit for a full list of licensed states.

8 Important Disclosures for PenFed.

PenFed Disclosures

Annual Percentage Rate (APR) is the cost of credit calculating the interest rate, loan amount, repayment term and the timing of payments. Fixed Rates range from 2.89%-4.78% APR and Variable Rates range from 2.13%-5.25% APR. Both Fixed and Variable Rates will vary based on application terms, level of degree and presence of a co-signer. These rates are subject to additional terms and conditions and rates are subject to change at any time without notice. For Variable Rate student loans, the rate will never exceed 9.00% for 5 year and 8 year loans and 10.00% for 12 and 15 years loans (the maximum allowable for this loan). Minimum variable rate will be 2.00%. These rates are subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.