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Pending Aid and Your Bill
If you have been awarded financial assistance or applied for any loans that we have processed, pending financial aid refers to the amount of aid that we expect you to receive as of the date of your bill. The amount due reflects your billed charges minus your pending financial aid. If the financial assistance you have been awarded does not appear as pending financial aid, it is likely that your file is not complete and your award has not been confirmed. Please check your MyBentley account or contact the Office of Financial Assistance at 781.891.3441 to find out what is missing.
All pending financial aid that has not disbursed to your student account for the fall by late September and for the spring by mid-March will expire and no longer appear on the bill. It is your responsibility to ensure that you meet all requirements for disbursement of funds so that financial aid is properly credited to your student account.
Grants and Scholarships
Institutional grants and scholarships will be credited to your student account at the end of each semester’s 100-percent tuition refund period if your file is complete and you meet enrollment requirements. Disbursement of estimated state scholarship amounts is dependent upon the timeliness of state agencies in releasing their funds to us. Pell Grants will be disbursed to recipients as soon as verification and necessary corrections are complete.
Federal Work-Study awards do not reduce billed charges, and these funds are not credited to your student account. Instead, students who have secured a position through the Student Employment Office will receive a paycheck on a bi-weekly basis for hours worked. Federal Work-Study will not appear as an expected credit on your bill.
Federal Direct Loans
If you are a first-time borrower, you must complete a promissory note and loan counseling requirements before Federal Direct Stafford loan funds can be disbursed. All Federal Direct Stafford Loans have an origination fee (currently 1.073%) deducted from the proceeds before they are sent to Bentley. Your net loan disbursement and the amount of pending Federal Direct Stafford Loan on the student account will be less than the amount which appears on your award letter. Parents and graduate students that are approved for Federal PLUS loans will need to complete a promissory note before the loan funds are disbursed. All Federal Direct PLUS loans have an origination fee (currently 4.292%) deducted from the proceeds before they are sent to Bentley.
Federal Perkins Loan
Federal Perkins Loan funds will be disbursed each semester. You will be required to sign a promissory note before the Perkins Loan will be disbursed. This step should be completed in the Office of Financial Assistance. All first-time Perkins Loan borrowers are also required to complete Perkins Loan Entrance counseling prior to the disbursement of funds.
Eligibility for a book advance is based upon your financial assistance. Total financial aid, (excluding work-study) and alternative loans must be sufficient to cover your student account balance, plus the amount of the requested book advance. In order to request an advance, you must complete the Book Advance Request form available from the Office of Financial Assistance.
The maximum amount of a book advance is half of the annual allowance as listed in the cost of attendance. Requests are processed daily; if approved, the amount of your book advance will be charged to your student account, reducing any future refund owed to you. You will receive a voucher verifying your eligibility that must be taken to the University Police Station, where your book advance amount will be credited to your Falcon Fund account. You may purchase your books at the Bentley University Bookstore by debiting the Falcon Fund credit on your ID card. Unused Falcon Fund credits will remain on your account until you graduate or leave the university.
If you wish to purchase your books from a source other than the Bentley University Bookstore, please see your financial aid counselor. If you have a pending credit balance on your student account, we may be able to provide you with an emergency loan against that credit balance that can be used to purchase books or pay for other educational expenses.