University Scholarship · MBA

Harvard Business School Need-Based Fellowships

Q: Are these scholarships available to Indian students, and are there specific criteria for them?

Yes, Harvard Business School Need-Based Fellowships are available to international students, including those from India. The need-based scholarship formula is applied consistently to all students, regardless of their citizenship. Indian applicants will need to submit a 'Certification of Finances Form' and income verification from the prior three years, similar to other international students. There are no specific additional criteria or separate scholarship programs exclusively for Indian students; the assessment is purely based on demonstrated financial need.

Q: Do I need to apply for these scholarships before being admitted to the HBS MBA program?

No, you do not apply for Harvard Business School Need-Based Fellowships until after you have been formally admitted to the MBA Program. Once admitted, you will be granted access to the financial aid application and detailed instructions to complete the process. Admissions decisions are merit-based, while financial aid is awarded based on need.

Q: Can I receive a full scholarship to cover the entire cost of the HBS MBA program?

While HBS offers generous need-based scholarships, including full-tuition scholarships for approximately 10% of students with the greatest financial need, it is important to note that the total cost of attendance includes more than just tuition (e.g., living expenses, health insurance, materials). While a full-tuition scholarship covers a significant portion, students typically cover the remaining costs through personal savings, student loans, and/or other external funding sources.

Harvard Business School · All India

Annual Award$2,000 to $87,000 (approx. ₹41.5 Lakh+)

Deadline5 Jan

Scheme Name	Harvard Business School Need-Based Fellowships
Provided By	Harvard Business School
Eligibility Summary	Class 11-12, Graduation, Engineering (< ₹8L Income)

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About the Program

Comprehensive guide for Harvard Business School Need-Based Fellowships. Get eligibility details, stipend amounts, and registration instructions here.

Benefits & Financial Support

$2,000 to $87,000 (approx. ₹41.5 Lakh+)

Harvard Business School Need-Based Fellowships are non-repayable gifts. Awards for the MBA program range from approximately INR 1,90,500 to INR 82,86,750 per year (equivalent to $2,000 to $87,000 USD, based on an exchange rate of 1 USD = 95.25 INR). The average scholarship awarded is approximately INR 47,62,500 per year ($50,000 USD). Over the two-year program, the average scholarship totals around INR 95,25,000 ($100,000 USD). Approximately 50% of HBS students receive these need-based scholarships, with 10% of students demonstrating the greatest financial need receiving full-tuition scholarships. For the 2026-27 academic year, the annual tuition is approximately INR 80,72,590 ($84,760 USD).

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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.
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Admission to Harvard Business School MBA Program: Applicants must first be admitted to the Harvard Business School MBA program.
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Nationality:The fellowships are open to both domestic (US citizens and permanent residents) and international students.
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Degree Level:Specifically for students pursuing the MBA degree at Harvard Business School.

Eligibility Criteria & Income Limit

Education Level	MBA
Course / Stream	MBA
Income Limit	No income bar
Category / Caste	General, OBC, SC, ST
Domicile State	All India

Mandatory Documents Checklist

✓MBA Financial Aid Application
✓Certification of Finances Form (for non-US Citizens and Permanent Residents)
✓Income verification documentation from the prior three years (e.g., federal tax returns, W2s, etc.)
✓Online Free Application for Federal Student Aid (FAFSA) (for US Citizens and Permanent Residents)
✓Additional supporting documentation if requested by MBA Financial Aid
✓Complementary fellowship application that provides parent and family information (if applying for fellowships like the Forward Fellowship)

Selection Process

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Selection for Harvard Business School Need-Based Fellowships is based solely on demonstrated financial need, not on merit or admission criteria
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The HBS financial aid team evaluates a candidate's overall financial situation, which includes reviewing income and tax information from the previous three years, along with details regarding assets, existing student debt, and socioeconomic background
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The need-based scholarship formula is applied uniformly to all admitted students, irrespective of their citizenship
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For non-US citizens, the Certification of Finances Form is a required submission
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Spousal income and assets, as well as higher living costs for married students or those with dependents, are also considered
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Students receiving employer loans or sponsorships are generally not eligible for HBS Scholarships.

Renewal Policy

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Students are required to submit a renewal application for their second year to confirm their continued eligibility for need-based aid
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If there are no significant changes in personal financial circumstances (e.g., marriage or having a child), the second-year need-based scholarship award will generally remain consistent with the first-year award.

How to Apply Online

Applications are submitted online via the official portal. Complete eKYC, upload scanned documents, and submit before the closing date.

1
Gain Admission to HBS MBA Program
You must first be admitted to the Harvard Business School MBA program. Admission is merit-based.
2
Access Financial Aid Application
Once admitted, you will gain access to the HBS financial aid application portal and detailed instructions on how to apply. It is recommended to apply for financial aid as soon as possible after admission.
3
Prepare Required Documents
Gather the necessary documentation, which typically includes: * The MBA Financial Aid Application (online form assessing need). * The Certification of Finances Form (specifically for non-US Citizens and Permanent Residents). * Income verification documentation from the prior three years (e.g., federal tax returns, W2s, or equivalent income statements from India). * Details about your assets, student debt, and socioeconomic background.
4
Submit Application
Complete and submit all required forms and documentation through the designated HBS financial aid portal.
5
Receive Financial Aid Package
After your application is reviewed, HBS will provide a financial aid package detailing any scholarship awards and loan options. Status Tracking: There is no public online portal for tracking the status of your financial aid application. All communication regarding your application status and financial aid package will be directly managed by the HBS Financial Aid Office after your admission and submission of application.

Common Questions (FAQs)

Are these scholarships available to Indian students, and are there specific criteria for them?

Yes, Harvard Business School Need-Based Fellowships are available to international students, including those from India. The need-based scholarship formula is applied consistently to all students, regardless of their citizenship. Indian applicants will need to submit a 'Certification of Finances Form' and income verification from the prior three years, similar to other international students. There are no specific additional criteria or separate scholarship programs exclusively for Indian students; the assessment is purely based on demonstrated financial need.

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IndiaScholarships.in attempts to provide accurate information manually curated from official sources. 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.