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Financial Assistance

Billing and Payments

Table of Contents

Payment Plans

The Bentley University Payment Plan can help align the payment of your college costs into your family’s monthly budget. Families can spread the costs out over four months each semester.

In addition to the payment plan, we offer several payment options, including online payment, payment by check, or payment via wire transfer.  Please visit the Student Financial Services page for more information.

Federal PLUS Loan

The Federal PLUS Loan (Parent Loan for Undergraduate Students) enables a parent to borrow as much as the total cost of attendance for the academic year, less any financial aid awarded. The parent borrower has a maximum of 10 years to repay the loan. The federal government will announce the interest rate each June for loans disbursed during the upcoming academic year (beginning July 1).

The interest rate is fixed at 7.54% for loans disbursed between July 1, 2022 and June 30, 2023. This interest rate will remain in effect for the life of the loan. The federal government will announce the interest rate each June for loans disbursed during the upcoming academic year starting on July 1. For all disbursements after October 1, 2020 and before October 1, 2023 there is a loan origination fee of 4.228%. PLUS Loan funds are disbursed to the student's account at the beginning of each semester. Parents that are approved for Federal PLUS loans will need to complete a promissory note before loan funds can be disbursed. For more information, please visit

The loan amount will be divided evenly between each semester of enrollment during the academic year.

Massachusetts Educational Financing Authority

The Massachusetts Educational Financing Authority (MEFA) also offers fixed-rate parent and student loans with immediate, deferred, or interest-only repayment options.  MEFA loans are available for both students who are residents of Massachusetts, and students who attend college in Massachusetts.  Therefore, all Bentley University students are eligible to apply.

Private Alternative Loans

Private alternative loans provide supplemental funding to help pay direct and indirect educational expenses. Parents or students apply for these loans directly with private lenders; however, Bentley is required to certify your loan eligibility. Before considering alternative loans, make sure you have determined whether you are eligible for federal loans such as the federal Direct loans and federal PLUS Loans, as these loans may offer more favorable terms and conditions. Private loans are not based on financial need, but the borrower and co-signer must meet credit and other eligibility requirements, which vary by lender. We encourage you to carefully compare rates and terms of alternative loans before making any decision on what loan program is best for you and your family.

You are responsible for determining the amount you wish to borrow. Bentley will certify your loan for the cost of attendance, less financial aid, unless you specify an amount lower than this number. Our office has created a list of lenders you may wish to consider based on their service and longevity. You may use any lender you would like, and are not obligated to choose one from this list.

Outside Scholarships

Many private companies, foundations and agencies offer scholarships for college. An outside scholarship, in most cases, will not have an impact on your Bentley financial aid award.

What is an outside scholarship?

An outside scholarship is any scholarship not awarded by the government or the school, such as a scholarship provided by a private sector company, philanthropist or foundation.  The federal government requires that you inform us directly of any grants, scholarships or other education benefits you will receive from sources outside of Bentley such as your high school, civic organization, vocational rehabilitation programs, tuition reimbursement benefits, prepaid tuition programs, etc.

How will your outside scholarship affect your financial aid eligibility?

An outside resource, in most cases, will not affect your financial aid award; however, we must ensure that the combination of your financial aid and outside awards does not exceed your federal need, as determined by the Federal Methodology. In cases where we must adjust your financial aid to prevent an "over award", we will reduce your aid starting with the self help part of your package (Federal Work Study, Federal Direct Subsidized Loan).  We will reduce your grant funds only as a last resort, but exceptions to this policy may not be made for late financial aid applications.

Where can I find outside scholarship opportunities?

There are several different ways to search for outside scholarships. In general, students must make the effort to identify and apply for any and all scholarships for which they may qualify. You can start your scholarship using the sites below. This list is not exhaustive and there are many scholarship search engines out there.

Anticipated Aid and Your Bill

If you have been awarded financial assistance or applied for any loans that we have processed, anticipated 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 anticipated financial aid. Check your Workday account to review your bill once Student Financial Services sends notification that bills are available (mid July for fall bills and early December for spring bills).

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

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 Loan funds can be disbursed. All Federal Direct Loans have an origination fee (currently 1.057%) deducted from the proceeds before they are sent to Bentley. Your net loan disbursement and the amount of pending Federal Direct Loan on the student account will be less than the amount which appears on your award letter. 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 4.228%) deducted from the proceeds before they are sent to Bentley.

Book Advances

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.