Scholarships for MBA Students at Harvard University

If you’re aiming for Harvard Business School (HBS), the tuition and living costs can feel daunting. And with so many rumors about “full rides” or secret funds, it’s hard to know what’s real. The good news: scholarships for MBA students at Harvard University are clear, structured, and generous—especially for candidates with financial need and meaningful impact.

This 2025 guide shows you exactly how Harvard MBA scholarships work, which fellowships you can realistically win, what the awards cover, and how to apply on time. Follow this roadmap to compare options, check eligibility, and submit a stand‑out financial aid application—with confidence.

What you’ll learn:

• How Harvard University MBA scholarships actually work (need‑based first, targeted fellowships second)
• Eligibility, funding amounts, deadlines, and how to apply online
• External awards you can stack (Forté, ROMBA, Boustany)—and what to verify
• Tables, timelines, and FAQs to save you time
• Calls to action: Apply Now, Check Eligibility, See Deadline

Important: Policies and figures change annually. Always confirm details on the official HBS Financial Aid pages before applying.

Quick links

• HBS Financial Aid (official): https://www.hbs.edu/mba/financial-aid/
• HBS Admissions (official): https://www.hbs.edu/mba/admissions/
• HBS Scholarships overview: https://www.hbs.edu/mba/financial-aid/Pages/default.aspx

Why Harvard—and how the money works in 2025

Harvard Business School offers one of the world’s most influential MBA programs with unmatched networks, recruiting, and leadership training. It’s also expensive. That’s why scholarships for MBA students at Harvard University are primarily need‑based, supplemented by named fellowships and selective external awards.

Key facts

• Need‑based, not merit‑based: HBS awards institutional scholarships almost entirely on demonstrated financial need. Roughly half of the class typically receives an HBS need‑based scholarship.
• Size of awards: Scholarships vary by need and may range up to substantial portions of tuition. Students with the greatest financial need may receive funding that covers full tuition. Recent averages (not guarantees) have been around the mid‑$40,000s per year. Confirm current averages and caps on the HBS site.
• Complementary fellowships: Additional targeted or named fellowships (often $10,000–$20,000 one‑time or per year) support specific backgrounds or goals (e.g., nonprofit leadership, life sciences, family financial responsibilities).
• External partners: Harvard University MBA scholarships can be supplemented by external fellowships such as Forté (women), Reaching Out MBA (ROMBA), and the Boustany MBA Harvard Scholarship. These are competitive, school‑nominated or separate applications, and may have restrictions.

Bottom line: You don’t need to be wealthy to attend. If you’re admitted, HBS’s aid model helps bridge the gap.

The main categories of scholarships for MBA students at Harvard University

To compare options quickly, start here.

1) HBS Need‑Based Fellowships (Institutional)

• What it is: The core of Harvard MBA scholarships. Gift aid based strictly on demonstrated financial need—no service obligation, no repayment.
• Typical funding: Varies; many recipients receive substantial support toward tuition. Students with the greatest need may receive full tuition coverage. Check current averages on HBS Financial Aid.
• Who it’s for: All admitted students, domestic and international, who document financial need.
• How to apply: After admission, complete the HBS financial aid application (income, assets, family context, prior education debt). No separate application before admission.

Call to action

• Check Eligibility and apply for aid after you receive your admit decision: https://www.hbs.edu/mba/financial-aid/

2) HBS Complementary Fellowships (Targeted awards)

Select examples (award amounts and availability vary; verify each year):

• Forward Fellowship (HBS): Supports students who provide significant financial support to family while at HBS. Reported awards often range from ~$10,000 to $20,000 per year depending on need.
• Horace W. Goldsmith Fellowship: One‑time award (commonly cited at $10,000) for extraordinary students committed to nonprofit/public sector careers.
• Robert S. Kaplan Life Sciences Fellowship: Supports students with deep interest and experience in life sciences business; typical award cited around $10,000.
• Additional named fellowships: HBS lists multiple donor‑funded awards with geographic, sector, or background preferences. You’re matched automatically based on your profile and need; some may require brief statements after admission.

Where to confirm: HBS Financial Aid—Scholarships and Fellowships pages.

3) External and Consortium Fellowships (School‑nominated or separate)

• Forté Fellowship (Women in Business): HBS is a Forté partner. Fellowships are typically school‑nominated for admitted women with outstanding leadership potential.
• Reaching Out MBA (ROMBA) Fellowship (LGBTQ+ leadership): HBS participates; fellows receive financial support plus access to the ROMBA network. School nomination is common.
• Boustany MBA Harvard Scholarship: A high‑profile external award tied to HBS, reportedly awarded biennially. Historically covers a significant portion of tuition (often cited up to 75%) plus travel/accommodation for an internship. Preference noted for applicants of Lebanese heritage. Apply separately after an HBS admit.
• Country and sponsor funds: Depending on your nationality, you may leverage Fulbright (select countries allow MBAs), Chevening (UK citizens for U.S. study is uncommon; Chevening is UK to UK mostly), employer sponsorship, or government/industry scholarships. Verify program rules carefully—many national schemes do not fund general MBAs.

External links (verify)

• Forté Foundation: https://fortefoundation.org/
• ROMBA Fellowship: https://reachingoutmba.org/fellowship/
• Boustany MBA Harvard Scholarship: https://www.boustany-foundation.org/scholarships/

Snapshot comparison: Harvard MBA scholarship options

Note: Amounts and availability change. Always verify direct with HBS Financial Aid and the external sponsor.

Eligibility criteria: What Harvard looks for (and what aid requires)

While admissions decisions and scholarships are separate, they intersect. Here’s what matters.

Admissions criteria (get in first)

• Academic excellence: Strong undergraduate record; rigorous coursework; optional test scores (GMAT/GRE) aligned with HBS expectations.
• Leadership and impact: Professional trajectory, evidence of initiative, influence beyond your role, community engagement.
• Clarity of goals: A credible path for your post‑MBA plans; not a rigid “five‑year plan,” but direction matters.

Financial aid eligibility (after admission)

• Financial need: HBS uses a transparent, need‑based approach considering your income, assets, family circumstances, and any obligations.
• International students: Fully eligible for HBS scholarships on the same need basis. You do not need a U.S. co‑signer to be considered for HBS gift aid (loans are separate).
• Complementary fellowships: Targeted criteria like sector commitment (Goldsmith), life sciences background (Kaplan), or family financial support (Forward).
• External awards: Program‑specific criteria (gender for Forté, LGBTQ+ leadership for ROMBA, heritage for Boustany, employer/government rules).

Call to action

• Check Eligibility after admission: https://www.hbs.edu/mba/financial-aid/

Costs, coverage, and realistic budgets (2025)

Understanding what scholarships for MBA students at Harvard University can cover means knowing the full cost.

Typical budget components

• Tuition and program fees (two years)
• Housing and utilities (Boston/Cambridge area)
• Food, transportation, and personal expenses
• Health insurance (student plan) and fees
• Books, cases, laptop/software
• Family/Dependent costs (if applicable)

What HBS scholarships cover

• Institutional need‑based fellowships are applied to billed tuition and fees (gift aid). They do not typically cover all living expenses.
• Complementary fellowships can offset remaining tuition or help with living expenses (per award terms).
• External fellowships have their own rules; many apply to tuition first.

Loan and work considerations

• Loans: HBS lists international loan options (with/without co‑signer) that can bridge gaps after scholarships.
• Work during term: HBS academic load is heavy; paid work during the first year is discouraged. Plan funding without relying on campus jobs.

Tip: Build a conservative budget. If you’re supporting family, investigate the Forward Fellowship and discuss dependents with Financial Aid.

Deadlines and timeline (admissions + aid)

Harvard MBA admissions runs in rounds; financial aid follows admission.

Indicative admissions rounds (verify each cycle)

• Round 1: Early September deadline; decisions in December
• Round 2: Early January deadline; decisions in late March
• Round 3: Early April deadline; decisions in May

Financial aid timeline

• Immediately after admission: HBS Financial Aid application opens for your round
• Within weeks: Submit income/assets info, prior education debt, family obligations, and any requested documents
• Spring–Summer: Scholarship notifications and award matching; complementary fellowships assigned; external nominations (Forté/ROMBA) handled by HBS; external scholarships maintain their own cycles (e.g., Boustany often due the cycle before matriculation)

CTAs

• See Deadline (Admissions): https://www.hbs.edu/mba/admissions/
• Apply Now (Financial Aid after admit): https://www.hbs.edu/mba/financial-aid/

How to apply for Harvard MBA scholarships (step‑by‑step)

Follow this workflow to maximize outcomes.

1. Apply to HBS (admissions first)

• Submit a strong application with clear leadership stories, thoughtful essays, and credible recommender choices.
• If you have testing, ensure GMAT/GRE aligns with your profile.

2. Prepare financial documents early

• Income statements (yours/spouse), bank statements, details on assets and liabilities, prior education loan statements.
• If you support family, outline recurring obligations (helpful for Forward Fellowship).

3. Submit the HBS Financial Aid application (after admission)

• Log into the HBS financial aid portal and complete all sections accurately.
• Upload documents requested by HBS (translations where necessary).

4. Consider complementary fellowships

• If your background fits Goldsmith, Kaplan, or Forward Fellowship, look for prompts in the HBS portal or communications.
• Provide concise statements quantifying impact, background, and financial responsibilities.

5. Explore external partners

• Forté (women) and ROMBA typically coordinate via HBS; you may be asked for additional information after admission.
• Boustany is separate: you must already hold an HBS admit; submit application, CV, GMAT/GRE (if applicable), photo, and supporting materials. Verify the biennial cycle.

6. Confirm stacking rules

• Some external awards can stack fully; others reduce your HBS scholarship. Clarify with Financial Aid how new awards affect your package.

7. Finalize your funding plan

• Accept offers; complete any loan applications to cover remaining costs.
• Add emergency cushion for settling‑in costs and unforeseen expenses.

Apply Now

• HBS Admissions: https://www.hbs.edu/mba/admissions/
• HBS Financial Aid: https://www.hbs.edu/mba/financial-aid/

Long‑tail deep dives: specific scenarios and solutions

Harvard MBA scholarships for international students

• Fully eligible for HBS need‑based fellowships on the same terms as domestic students.
• No separate “international” application—submit the standard financial aid form after admission.
• External options: Forté (women), ROMBA (LGBTQ+), Boustany (biennial, global with preference for Lebanese heritage), government sponsorships (varies by country).
• Visa timing: Funding documentation may be required for your I‑20; coordinate closely with Financial Aid and the MBA Registrar.

How to get a “full scholarship” for a Harvard MBA

• Harvard MBA scholarships are primarily need‑based; students with the highest need may receive full tuition awards. Full cost of attendance (tuition + living) is typically not fully covered by scholarships alone.
• Action plan: Present accurate financial information; apply for complementary awards; seek external fellowships; plan for loans to cover remaining living expenses.

Forté & ROMBA at HBS: what to know

• Selection: School‑nominated based on leadership and community contributions. No separate pre‑admission application in most cases.
• Timing: After admission; stay responsive to HBS emails and complete any forms quickly.
• Benefits: Tuition support plus high‑impact leadership networks, conferences, and recruiting access.

Boustany MBA Harvard Scholarship: fast facts (verify on official site)

• Frequency: Typically awarded every two years.
• Coverage: Reports cite coverage of a significant portion of tuition (often described as up to 75%) plus travel and accommodation for an internship with the Foundation.
• Preference: Indicated preference for candidates of Lebanese heritage; all nationalities may apply if exceptional.
• Process: Apply after securing an HBS admit; short‑listed candidates may be invited for interview.

Make your case stronger: tips that work

• Quantify impact, not just roles: “Led a 15‑person product team; drove ARR from $2.1M to $6.4M in 12 months.”
• Show service: HBS values applicants who lift others—mentorship, nonprofits, community projects, or social ventures.
• Clarify constraints: If you support family, document amounts, frequency, and duration (Forward Fellowship relevance).
• Sector focus: If you’re life sciences or public/nonprofit, tie your history and future plans to Kaplan or Goldsmith.
• External momentum: Apply for external fellowships early; winning one signals demand and may improve your overall package (subject to stacking rules).

Common mistakes to avoid

• Waiting to prepare finances until after admission (scramble = errors)
• Under‑reporting family obligations (hurts your need profile)
• Assuming there’s merit‑based “full ride” for everyone (HBS is need‑based first)
• Missing external fellowship cycles (e.g., Boustany’s biennial timing)
• Not clarifying stacking policies (surprises later)
• Vague post‑MBA goals that don’t connect to your background or targeted fellowships

Example budget and coverage mapping (illustrative only)

Note: Replace $ with current figures from HBS Cost of Attendance. Use this to plan your real gap after scholarships.

• Apply Now: Submit your HBS application, then complete Financial Aid after admission.
• Check Eligibility: Confirm HBS need‑based scholarship criteria and complementary fellowships.
• See Deadline: Track admissions rounds and financial aid due dates for your round.

Official pages

• HBS Admissions: https://www.hbs.edu/mba/admissions/
• HBS Financial Aid: https://www.hbs.edu/mba/financial-aid/
• HBS Scholarships overview: https://www.hbs.edu/mba/financial-aid/Pages/default.aspx

FAQs: Scholarships for MBA Students at Harvard University

Q1: Does Harvard offer full scholarships for the MBA?

A1: HBS scholarships are primarily need‑based. Students with the greatest financial need may receive awards that cover full tuition. Living expenses are typically funded via savings, complementary/external fellowships, and educational loans. Always review current policies with HBS Financial Aid.

Q2: Are international students eligible for Harvard MBA scholarships?

A2: Yes. International students are fully eligible for HBS need‑based fellowships on the same terms as domestic students. No separate “international” application exists. External awards (Forté, ROMBA, Boustany, government sponsorships) may also be available.

Q3: What are the main scholarships for MBA students at Harvard University?

A3: The core is the HBS Need‑Based Fellowship. Complementary fellowships include the Forward Fellowship, Horace W. Goldsmith Fellowship, and Kaplan Life Sciences Fellowship (among others). External options include Forté, ROMBA, and the Boustany MBA Harvard Scholarship. Availability and amounts vary by year.

Q4: When do I apply for Harvard MBA scholarships?

A4: After you receive an admission offer. You’ll complete the HBS financial aid application (need‑based). Complementary fellowships are typically considered during that process. External fellowships follow their own timelines (some require your HBS admit first).

Q5: Can I stack multiple scholarships at HBS?

A5: Often yes, but stacking rules apply. Some external awards reduce institutional need‑based aid; others stack fully. Always ask HBS Financial Aid how a new award will affect your package before you accept it.

Q6: What is the Harvard Forward Fellowship?

A6: It’s a complementary HBS fellowship for students who provide financial support to family during the MBA. Award sizes vary based on need. You’ll be considered after you complete the financial aid process; HBS may request additional information.

Q7: How competitive are Forté and ROMBA at Harvard?

A7: Very competitive. HBS nominates a limited number of admitted students who demonstrate exceptional leadership and alignment with each fellowship’s mission. There is no separate pre‑admission application in most cases; focus on an outstanding admissions file and leadership impact.

Q8: What is the Boustany MBA Harvard Scholarship?

A8: It’s an external scholarship awarded biennially to an admitted HBS student. It reportedly covers a significant portion of tuition (often cited up to 75%) and includes travel/accommodation related to the Boustany internship. Preference has been indicated for Lebanese heritage. Confirm current details on the foundation’s site.

Q9: If I have employer sponsorship, can I still get HBS aid?

A9: Possibly. Employer funding is factored into your financial need analysis and can reduce the institutional scholarship amount. Disclose all sponsorships and discuss the impact with HBS Financial Aid.

Apply Now | Check Eligibility | See Deadline

• HBS Admissions: https://www.hbs.edu/mba/admissions/
• HBS Financial Aid: https://www.hbs.edu/mba/financial-aid/
• Forté: https://fortefoundation.org/
• ROMBA: https://reachingoutmba.org/fellowship/
• Boustany MBA: https://www.boustany-foundation.org/scholarships/

Your action plan for Harvard MBA funding

Scholarships for MBA students at Harvard University are real, significant, and attainable—especially if you have demonstrated need and a record of leadership. Here’s how to move forward:

• Shortlist your targets: HBS Need‑Based Fellowship first; then complementary fellowships (Forward, Goldsmith, Kaplan); finally external options (Forté, ROMBA, Boustany).
• Check Eligibility on the HBS Financial Aid site and gather financial documents now—don’t wait until after you’re admitted.
• See Deadline for your admissions round and any external fellowship cycles.
• Apply Now—and when admitted, submit a complete financial aid application early, with accurate data and clear documentation of any family obligations.