Harvard Business School Need-Based Fellowships
About the Program
Comprehensive guide for Harvard Business School Need-Based Fellowships. Get eligibility details, stipend amounts, and registration instructions here.
Benefits & Financial Support
Harvard Business School (HBS) Need-Based Fellowships are gifts that do not need to be repaid. Awards for the 2026-2027 academic year range from approximately $2,000 USD (~166,000 INR) to $87,000 USD (~7,221,000 INR) per year. Approximately 50% of MBA students receive need-based financial aid, with the average award being around $46,000-$50,000 USD per year (~3,818,000 INR - 4,150,000 INR). For students with the greatest financial need (roughly 10% of the class), full tuition scholarships are available, covering the 2026-2027 tuition fees of $84,760 USD (~7,035,080 INR). These fellowships contribute to the cost of attendance, which for a single student in 2026-2027 is estimated at $130,318 USD (~10,816,394 INR) annually, including tuition, health fees, health insurance, housing, food, transportation, and other living expenses. Scholarship recipients are typically still responsible for their living expenses not covered by the award. Some students may also receive additional funding through HBS Complementary Fellowships, such as the Forward Fellowship, which provides $15,000 USD ($30,000 over two years) for students from lower-income backgrounds with significant financial burdens or family obligations.
Inclusions
Demonstrated Financial Need:Financial aid is awarded based on demonstrated financial need, not merit. The HBS financial aid team determines need based on factors including gross income from the prior three years, assets, socioeconomic background, and undergraduate debt.
Admission to Harvard Business School MBA Program: Applicants must first be admitted to the Harvard Business School MBA program.
Nationality:The fellowships are open to both domestic (US citizens and permanent residents) and international students.
Degree Level:Specifically for students pursuing the MBA degree at Harvard Business School.
Eligibility Criteria
Educational Qualification
MBA
Must be enrolled in MBA.
Financial & Category
Selection Process
Admission to Harvard Business School is merit-based, but financial aid is awarded based solely on demonstrated financial need
The selection process for the need-based fellowships involves a comprehensive review of the applicant's financial situation through the HBS financial aid application
The financial aid team utilizes a standardized formula that considers the applicant's gross income from the prior three years, existing assets, socioeconomic background, and any undergraduate debt
Students with higher pre-MBA earnings are generally expected to contribute at a higher rate towards their education
The goal is to make the MBA program accessible to talented future leaders regardless of their financial background.
Renewal Policy
Students are eligible to apply for need-based HBS Scholarships and student loans in both years of the MBA program
This implies an annual assessment of financial need for continued support.
Application Process
- 1Gain Admission to the HBS MBA Program
You must first be admitted to the Harvard Business School MBA program for the 2026-2027 academic year. The application deadlines for the 2026-2027 admissions cycle (Class of 2029) are typically in September for Round 1 and January for Round
- 2Access Financial Aid Application
Once admitted, access the MBA Financial Aid Application through the HBS Intranet.
- 3Complete Required Forms
- If you are a US Citizen or Permanent Resident, complete the Free Application for Federal Student Aid (FAFSA). - If you are a non-US Citizen or Permanent Resident, complete the Certification of Finances Form.
- 4Submit Income Verification
Provide income verification documentation from the prior three years, such as federal tax returns, W2s, or equivalent documents.
- 5Provide Additional Documentation
Submit any additional supporting documentation requested by the MBA Financial Aid office.
- 6
Apply for Complementary Fellowships (Optional): If you wish to be considered for additional fellowships like the Forward Fellowship, complete the specific complementary fellowship application, which may require parent and family financial information.
Documents Required
Important Dates
Application Deadline
5 January 2027
Applications for the Harvard Business School MBA Need-Based Fellowships for the 2026-2027 academic intake are aligned with the MBA application rounds. Round 1 applications close on September 9, 2026, and Round 2, the final deadline, is January 5, 2027. All applications are due by 12:00 PM Eastern Time on the respective deadline day.
Dates are subject to change as per the provider's official notification. Applicants are encouraged to apply well before the closing date.
Scholarship Quick Facts
Common Questions (FAQs)
Q.Are Harvard Business School Need-Based Fellowships available to international students?
Yes, Harvard Business School Need-Based Fellowships are fully available to international students, just like domestic applicants. The school is committed to making its MBA program accessible to talented individuals from all backgrounds globally.
Q.Are these fellowships merit-based or need-based?
These fellowships are strictly need-based. While admission to Harvard Business School is merit-based, financial aid is awarded solely on demonstrated financial need. There are no merit-based scholarships provided directly by HBS.
Q.How is financial need determined for the fellowships?
Financial need is determined by the HBS financial aid team using a standardized formula. This formula takes into account your gross income from the three years prior to application, your assets, your socioeconomic background, and any undergraduate debt you may have. Students with higher earnings are expected to contribute a higher proportion towards their education.
Q.Can the fellowship cover the entire cost of the MBA program?
While some students with the greatest financial need (approximately 10%) can receive full tuition scholarships (covering $84,760 USD for 2026-2027), the fellowships generally do not cover the entire cost of attendance, which also includes living expenses, health insurance, and other fees. HBS typically expects a contribution from the student, and many students combine fellowships with personal savings, loans, or outside funding to cover the total cost.
Help & Contact Support
Official Support
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Legal Disclaimer
IndiaScholarships.in attempts to provide accurate information manually curated from official sources. However, scholarship details, timelines, and eligibility can change without notice as per the provider's discretion. Applying for a scholarship does not guarantee selection. Always verify all information on the official Harvard Business School website before final submission.
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