What Does It Cost to Attend Bentley University?
Bentley University, a private nonprofit institution, is known for providing students with relevant, practical, and transferable skills through their educational blend of business, technology, and liberal arts. This mix has made Bentley one of the nation’s best business schools, and their alumni are highly sought after by today’s leading organizations for their professionalism, acumen, and real-world experience. Another thing that Bentley is known for is its price tag.
If Bentley University is on your student’s list of dream schools, don’t let the lofty list price dissuade you from applying; most students do not pay the published price of college. Keep reading to learn more about how to calculate the real cost of college.
Why College Costs are Highly Variable
The expense of an education at an institution like Bentley University fluctuates based on a variety of elements that are unique to each student—which makes list price a handy baseline, but a bad predictor of the actual out-of-pocket cost of college. Net price, which is the list price minus any government or institutional aid and merit scholarships, is a better metric for judging what college will really cost.
What Is the List Price at Bentley University?
Private colleges and universities typically come with a high price tag and Bentley is no exception. The list price—tuition, room, and board combined—for Bentley University is $63,350 for both in- and out-of-state students. However, as previously mentioned, most students will not pay the published price. Students who pay full price at Bentley are generally from affluent families with incomes surpassing $175,000 a year who fall outside of the top third academically of accepted students.
What Is the Bentley University Financial Aid Net Price?
Financial aid net price is calculated by deducting any aid rewarded from grants and scholarships from an institution’s list price. The financial aid net price of Bentley is $55,840.
What Is the Family Income-Based Cost of Attending Bentley?
The income level of a student’s family plays a significant role in determining the cost of college—students from lower-income families can anticipate paying less for Bentley than a student with more financial means. Below is a breakdown of net cost at Bentley according to family income:
|Family Income||Average Net Price|
How Much Merit Aid do Bentley University Students Receive?
Compared to other colleges and universities, Bentley is on the low end of merit aid awarded. In a poll of over 1,000 schools analyzed by CollegeVine for merit aid generosity, Bentley ranked 802nd. Merit aid is financial aid given without consideration for the financial need of a student, awarded instead for academic skill or achievements outside the classroom such as athletic, arts, or leadership.
37.3% of Bentley students without financial need receive merit aid, with the average amount awarded coming in at $672. Both in- and out-of-state Bentley students who don’t qualify for financial aid will pay an average net price of $62,678—just slightly below the university’s list price.
How Many Bentley University Students Take Out Loans?
Many college students employ loans to pay for a percentage of their education. 61% of Bentley student take out student loans with $4,706 being the average federal student loan across four years. Keep in mind that some students may take out private loans as well.
Student Outcomes at Bentley University
Student outcomes should be on the mind of anyone applying to college—they offer insight into expected graduation and future earnings. 88% of Bentley students graduate within six years of enrolling, meaning prospective students can feel good about their odds of graduating on time.
Bentley students will also feel good about their investment in their education when entering the workforce, as the average salary for a Bentley student 10 years after graduation is $86,900. For comparison, the average income of a Waltham, Massachusetts, (home of Bentley University) resident is $35,642 a year and the average household income of a Waltham resident is $73,162.
Local Area Cost Considerations
Located on the outskirts of Boston—it’s just 15 miles away—Waltham is an expensive place to go to school. The cost of living index (a number used to give a general idea of the expense of living in a location) of Waltham is 171.1 according to Sperling’s Best Places. To put it in context, the cost of living index of the average U.S. city is 100 and the cost of living index in the Commonwealth of Massachusetts is 139.
Average Apartment Rental
78% of Bentley students choose to live on campus. Those who choose to live off campus will find accommodations on the expensive side—housing is more than 200% more expensive in Waltham than the national average which the primary driver of the high cost of living in Waltham.
The average rent for a one-bedroom apartment in Waltham is $1,737. Two- and three- bedroom apartments, on average, command $2,117 and $2,653 respectively. Students can browse listings and get assistance finding off-campus housing through the Bentley University Off-Campus Housing Service.
Students who want to work while attending Bentley will be happy to learn that Massachusetts has one of the nation’s highest minimum wages at $12 an hour. This makes Massachusetts one of 29 states with a minimum wage greater than the federally mandated $7.25 an hour.
Other Ways to Help Fund a College Education
Work-study is a favored way for college students to earn extra money while pursuing their studies and Bentley supports the Federal-Work Study Program while also institutionally funding on-campus positions for students who don’t qualify for the federal work-study program. Bentley’s Student Employment Office can advise students with any questions or concerns about employment, including advising students about off-campus jobs.
Bentley considers academic scholarships for all its first-year fall semester students. There is no application process and eligible students are notified of their eligibility upon admission. For students willing to put in the effort, a wide spectrum of private scholarships are also available. Our blog Getting a Head Start on Your Scholarship Search is a great jumping off point.
One scholarship you’ll read about in Getting a Head Start on Your Scholarship Search is the National Merit Scholarship, which benefits approximately 15,000 students each year. Interested in learning more about the National Merit Scholarship and seeing if you qualify? If so, read our blog How to Qualify for the National Merit Scholarship Program.
Curious about your chances of acceptance to your dream school? Our free chancing engine takes into account your GPA, test scores, extracurriculars, and other data to predict your odds of acceptance at over 500 colleges across the U.S. We’ll also let you know how you stack up against other applicants and how you can improve your profile. Sign up for your free CollegeVine account today to get started!