<p>Hey guys.. I wanted your opinion on financial at bentley and if il be okay.</p>
<p>My financial package is coming late because there was an issue with the sending of documents, but I submitted the documents to them in person and everything checks out. I will receive a package by next Friday,but I am impatient and wanted a general idea of what I should get.</p>
<p>Its only me and my mother, and my mother is unemployed. My father is not in the picture and pays no child support or alimony and had his rights legally terminated. The noncustodial waivers were approved so fin aid is only based off of my mom and I.</p>
<p>Aside from my pm having zero income, she does have a bit assets. She has about 70,000 in A trust which pays for our living expenses and our property taxes. But our property taxes are back two years, which will cost us like 20,000 and will be paid shortly, so she only has 50,000. She has no other money, and so shed be bankrupt in like four years forcing her to sell the house and move. </p>
<p>My efc is 00</p>
<p>Our house has no mortgage(my grandfather bought it before he died) and has a value of around 500k, but it was purchased at 227k.</p>
<p>I have only like 300 dollars in my name except for like 7000 in a trust, which I am okay with using for college, but that money is drops in a bucket compared to bentleys tuition.
I am in love with bentley, I visited them and want nothing more then to attend, do you thinks they will provide enough financial aid for me to attend? How much should I expect in loans and how much in grants? Are they known for decent financial aid? They're like 92% need met on us college news but idk if that same statistic would carry over to someone with my level of need. My efc is 00</p>
<p>Any opinions or info will be helpful, thanks.</p>
<p>You’ll be getting your aid package soon, so you can then address the reality rather than the possibilities. I do want to point out a few things to you, however.</p>
<p>Bentley uses PROFILE as well as FAFSA. The FAFSA gives you access to federal funds such as PELL and the subsidized Staffords. With a zero EFC, and it looks like that is the case, you will get full PELL of about $5600 and you can get Stafford loans for $5500 with $3500 of it subsidized. That is all that is guaranteed by your zero EFC, and that is a drop in the bucket for a school that is on the upper side of over $55K a year in costs. </p>
<p>In order to get Bentley money, they will calculate what you and your mother need to contribute using their own formula. It is possible to come up with much bigger expected contributions than what FAFSA’s EFC is, as there is no auto zero which is what you got with FAFSA. Your assets were ignored as were your mother’s due to the simplified means test . I don’t think that is going to happen with institutional formulas. Also primary home values are not ignored in institutional methodolgy. You can end up with a high contribution expected, but there is no way of telling until you get their package. I am just pointing out some things that I see that colleges using PROFILE will take into account.</p>
<p>Without the simplified means, your student EFC would have been $600, possibly more depending on how the trust is configured and named as student assets get hit a direct 20% without any allowance right there. PROFILE will likely go after this.</p>
<p>What is owed or has to be paid does not come nto the picture. Just what is listed as assets. </p>
<p>Unless Bentley takes more things into consideration than most PROFILE schools do, you might get hit with a larger contribution than you can afford. Have you gotten some other possibilities to which you can commute. You might want to work with our mother on getting her onto her feet with what assets she and you have.</p>