Federal Loan Program
The Federal Unsubsidized Direct Loan Program
The Federal Unsubsidized Direct Loan program provides funds for students through the federal government. You may borrow up to $20,500 each academic year. The interest rate is fixed at 6.08 percent as of July 1, 2019. Repayment begins six months after graduation or after you drop below half-time enrollment. All Federal Unsubsidized Direct Loans disbursed after October 1, 2018 and before October 1, 2019 have a 1.062 percent origination fee.
Under the Federal Unsubsidized Direct Loan program, no payment is required while you are enrolled on a half-time basis (minimum of 4.5 credits per semester) and during a six-month grace period. The interest, however, will accrue and is your responsibility. The interest may be paid during school or deferred then capitalized (added to the principal) when repayment begins.
Unless you reject this loan, Bentley University will automatically process your Federal Unsubsidized Direct Loan electronically through the federal government. We will process a loan for the amount shown on your award notification unless you decline or reduce the amount by returning the notification to us with your instructions.
IMPORTANT: You are now able to complete a single master promissory note (MPN) that will be used for as long as you attend Bentley University. Detailed instructions on how to e-sign your MPN will be sent to you after we process your loan.
Federal Unsubsidized Direct Loan applicants borrowing for the first time are required to complete loan counseling to learn about their rights and responsibilities as borrowers. This counseling can be completed at the StudentLoans.gov website. No loan funds will be disbursed until this requirement is met. Failure to complete loan counseling may result in the cancellation of your loan.
Bentley Graduate Need Grant
This award is made available through Bentley and does not have to be repaid. It is available only to full-time students (at least nine credits per semester) who complete an aid application prior to the priority deadline and demonstrate need as defined by our institutional formula. Students in the Falcon Fast-Track program must file a College Scholarship Service PROFILE form with parent information to be considered for institutional need-based grant assistance. Please see our application instructions for more details.
Please note: the availability of Bentley Graduate Need Grant funding is limited. As a rule, a lesser percentage of need is covered by grant funding. You can expect your financial aid package to be heavily weighted toward federal loans.
Satisfactory Academic Progress
In order to remain eligible for assistance, financial aid applicants must meet standards of academic progress established in accordance with federal regulations. The Satisfactory Academic Progress (SAP) of aid applicants and recipients will be evaluated by the Office of Financial Assistance at the end of each semester. This evaluation will generally occur in January, May and/or August after semester grades are posted as a part of our determination of continued financial aid eligibility for future semesters.
Students must have at least a 2.70 cumulative grade point average (GPA) at the end of each semester to receive Bentley need-based grant funds and/or federal financial aid for the next semester of attendance.
In addition to a 2.70 minimum cumulative GPA, applicants for Bentley funds and federal aid must demonstrate progress by successfully completing (finishing with a passing grade) at least 67 percent of all attempted courses. An attempted course is one in which the student is enrolled after the second week of classes. Transfer credits accepted toward completion of a student’s program are also counted as both credits attempted and completed. Failure, withdrawal after the second week, or an incomplete (I) in a class constitutes an attempted course that is not successfully completed. Although aid is generally not available for repeat course work, repeated courses will be counted in measuring this standard. In addition, aid applicants may not attempt more than 150 percent of the number of credits required for their degree. For instance, if your degree requires 30 credit hours, you may not attempt more than 45 credit hours to achieve this degree.
Students who fail to meet these SAP standards at the end of a term will be issued a Financial Aid Warning. Students given a warning will remain eligible for assistance for the next semester of attendance but must achieve the minimum 2.70 cumulative grade point average requirement and 67 percent completion rate at the conclusion of that term.
After a term on Financial Aid Warning, students who fail to meet the satisfactory academic progress standards described above will lose eligibility for institutional and federal need-based assistance. Students will be notified in writing by the Office of Financial Assistance if they have lost aid eligibility.
Students with significant and documented extenuating circumstances may appeal to regain aid eligibility through the Office of Graduate Student and Academic Services. Appeals must be made in writing and are required to include an explanation as to why the student failed to make SAP and what has changed that will allow the student to successfully make SAP at the next evaluation. Appeals are approved or denied at the discretion of the assistant dean of Graduate Student and Academic Services.
Students whose appeals are approved are placed on SAP Probation and are thereby granted one additional semester of aid. In general, a student will be granted only one semester of SAP Probation during their academic career. Students are expected to meet the standards of academic progress upon completion of the semester for which they were granted probation.
Refund Policy for Federal Aid Recipients
If you withdraw from all classes after the semester begins, you could still be responsible for a portion of tuition, room, and board for which you have been charged. Bentley University is responsible for adhering to guidelines established by the federal government that determine the amount of federal assistance you are allowed to keep toward prorated university charges. Detailed information about the federal refund policies is available in the Bentley University Student Handbook and the University Catalogue.
The McCallum Graduate School offers merit aid in the form of scholarships, and graduate assistantships to highly qualified full- and part-time students. Awards are based primarily on academic, professional and personal achievement, with consideration given to the contribution that each individual can make to the graduate school population – without regard to financial need. Learn more about merit aid programs.
VA Yellow Ribbon Program
Bentley is pleased to recognize the service and contributions of our veterans and their families by participating in the Yellow Ribbon Program. Each year, Bentley offers five $4,000 awards to eligible graduate students. Additional information and online application is available here.