Note that the situation for student loans has changed due to the impact of the coronavirus outbreak and relief efforts from the government, student loan lenders and others. Check out our Student Loan Hero Coronavirus Information Center for additional news and details.
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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
- Financial aid options for Bentley University
- Final thoughts on paying for Bentley University
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 FAFSA.ed.gov 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.
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
- Scholarships for Bentley University students
- Federal work study
- Federal student loans
- Bentley University student loans and payment options
- Private student loans for Bentley University
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 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.
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.
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.
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.
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.
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?Here are the top 9 lenders of 2021!
|Lender||Variable APR||Eligible Degrees|
|1.89% – 6.15%1||Undergrad & Graduate|
|1.99% – 5.64%2||Undergrad & Graduate|
|1.99% – 6.84%3||Undergrad & Graduate|
|1.91% – 5.25%4||Undergrad & Graduate|
|2.25% – 6.53%5||Undergrad & Graduate|
|2.15% – 4.42%6||Undergrad & Graduate|
|1.89% – 5.90%7||Undergrad & Graduate|
|2.39% – 6.01%||Undergrad |
|2.00% – 5.63%8||Undergrad & Graduate|
|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 May 1, 2021.
2 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 2.98% APR (with Auto Pay) to 5.49% APR (with Auto Pay). Variable rate loan rates range from 1.99% APR (with Auto Pay) to 5.34% 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 October 26, 2020, 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 10/26/2020. 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 protected], or call 888-601-2801 for more information on our student loan refinance product.
© 2020 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.
3 Important Disclosures for CommonBond.
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 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.
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 02/17/2021 student loan refinancing rates range from 1.91% APR – 5.25% Variable APR with AutoPay and 2.95% APR – 7.63% Fixed APR with AutoPay.
5 Important Disclosures for SoFi.
6 Important Disclosures for PenFed.
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 2.15%-4.42% 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.
7 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 www.laurelroad.com.
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.
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%.
KEYBANK NATIONAL ASSOCIATION RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE.
This information is current as of January 4, 2021. Information and rates are subject to change without notice.
8 Important Disclosures for Nelnet.
Checking your rate results in a soft credit pull, which will not affect your credit score. If you continue with your application, Nelnet Bank will request your permission to obtain your full credit report from one or more consumer reporting agencies. This is a hard credit pull and may affect your credit score.
Interest rate reduction of .25% for automatically withdrawn payments from any designated bank account (“auto debit discount”). Auto debit discount applies when full payments (including both principal and interest) are automatically drafted from a bank account. The auto debit discount will continue to apply during periods of approved forbearance or deferment if the auto debit discount was in effect at the time of receiving the forbearance or deferment. Auto debit discount will remain on the account unless (1) the automatic deduction of payments is canceled or (2) there are three consecutive automatic deductions returned for insufficient funds at any time during the term of the loan.
Request for the cosigner to be released can be made by the borrower after 24 consecutive, on-time payments (not later than 15 days after the due date) of principal and interest have been made. Borrowers in deferment or forbearance must make 24 consecutive, on-time payments after re-entering repayment to qualify for the release. The borrower must be current on their payments at the time of the cosigner release request and show the ability to assume full responsibility of the loan(s) by meeting certain credit criteria on their own at the time of the request, including, but not limited to, being a U.S. citizen or having permanent residency in the United States, being the age of majority in their permanent state of residency, providing sufficient proof of income, and having no student loans in default.
Hardship forbearance allows you to temporarily suspend payments on your loan(s) while you are experiencing financial hardship. It is offered in increments of two or three months, with a maximum of 12 months available, in aggregate, over the life of the loan. If your loan(s) are in good standing at the time of your request, you will be eligible for forbearance in increments of two monthly payments. If, at the time of your initial request, your loan(s) are considered past-due, you will be eligible for forbearance in increments of three monthly payments. Future increments of forbearance, up to a life-time maximum of 12 months, may be requested upon the completion of making a certain number of principal and interest payments. During the two- or three-month forbearance period, you will not be required to make payments; however, any unpaid interest will continue to accrue and will be capitalized (added) onto your principal balance at the end of the forbearance period. You may continue making payments in any amount without penalty during the forbearance period. Your loan repayment term will be extended by the number of months in the forbearance period.
Refinance Loan Eligibility: You must be a U.S. citizen or permanent resident alien with a valid U.S. Social Security number, and be the legal age to enter into binding contracts in your permanent state/territory of residency, or be at least 17 years of age and apply with a cosigner who is at least the age of majority in their state/territory. Non-residents can apply with an eligible cosigner who is a U.S. citizen or permanent resident alien with a valid U.S. Social Security number. The student loans you refinance must be in their grace or repayment period, and you can no longer be enrolled in school on a half-time or more basis. You must have at least $5,000 in student loans to refinance. You, or your eligible cosigner, must have an annual income of at least $36,000. Approval subject to credit review. Other credit criteria may apply.
Refinance Loan Limits:
Loan Refinancing Risks: Federal student loans include benefits that may not be offered with private student loans. Carefully review any potential benefits that may be lost by refinancing federal and private education loans, such as the loss of any remaining grace periods. To learn more about what to take into consideration when refinancing federal student loans with private education loans, click here
Selecting ‘Get Started’ results in a soft credit pull, which will not affect your credit score. If you continue with your application, Nelnet Bank will request your permission to obtain your full credit report from one or more consumer reporting agencies. This is a hard credit pull and may affect your credit score.
Fixed interest rates range from 2.99% APR (with auto debit discount) to 6.25% APR (without auto debit discount). Your interest rate will depend on your (and if applicable, your cosigner’s) credit qualifications. The fixed interest rate will remain the same for the life of the loan.
Variable interest rates range from 2.00% APR (with auto debit discount) to 5.63% APR (without auto debit discount). Your interest rate will depend on your (and if applicable, your cosigner’s) credit qualifications. Variable rates may increase after consummation. The variable interest rate is equal to the One-Month London Interbank Offered Rate (“One-Month LIBOR”) plus a margin. The One-Month LIBOR in effect for each monthly period (from the first day of the month through and including the last day of the same month) will be the highest One-Month LIBOR published in The Wall Street Journal “Money Rates” table on the twenty-fifth (25th) day (or if such day is not a business day, the next business day thereafter) of the month immediately preceding such calendar month. The Annual Percentage Rate (APR) for a variable interest rate loan will change monthly on the first day of each month if the One-Month LIBOR index changes. This may result in higher monthly payments. The current One-Month LIBOR index is 0.15% as of 5/4/2021.
The lowest interest rate for each loan type requires automatically withdrawn (“auto debit”) payments, a five-year repayment term, and the borrower making immediate principal and interest payments. Not all borrowers will receive the lowest rate. The interest rate and Annual Percentage Rate (APR) may be higher depending upon (1) the credit history of the borrower and, if applicable, the cosigner, (2) the repayment option and loan term selected, (3) the loan type selected, and (4) the highest level of education attained. If approved, applicants will be notified of the rate qualified for within the stated range.
*Checking your rate results in a soft credit pull, which will not affect your credit score. If you continue with your application, Nelnet Bank will request your permission to obtain your full credit report from one or more consumer reporting agencies. This is a hard credit pull and may affect your credit score. **Your actual savings may vary based on interest rates, outstanding balances, remaining repayment terms, and other factors.