Harvard University MBA Scholarships 2026
Earning an MBA from Harvard Business School (HBS) is a significant investment in your future. While the cost of attendance is substantial, HBS is one of the few top-tier business schools that operates on a need-based financial aid model. This means that admission is merit-based, but the money you receive is based entirely on your financial circumstances, ensuring that the world’s best talent can attend regardless of their bank account balance.
The HBS Financial Aid Philosophy
Unlike many other programs, Harvard does not offer “merit scholarships” for high GMAT scores or professional achievements. Instead:
- ~50% of students receive a need-based scholarship.
- The average award is approximately **$46,000 per year** ($92,000 total over two years).
- Full-tuition awards are granted to the 10% of the student body with the greatest financial need.
Key Deadlines for the Class of 2028 (Entering 2026)
To be considered for scholarships, you must first be admitted to the program. The application rounds for the 2026 intake are:
- Financial Aid Application: Once admitted, you will receive access to the HBS Financial Aid tool. You must submit your financial documents (tax returns, asset statements, etc.) shortly after your admission notification.
Types of Funding Available
1. HBS Need-Based Scholarships
These are “gifts” that do not need to be repaid. The amount is determined by a formula that looks at your income from the last three years, personal assets, and socioeconomic background.
2. Specialized HBS Fellowships
Beyond general need-based aid, HBS offers fellowships for students with specific backgrounds. These can often be combined with other aid:
- Forward Fellowship: For students from lower-income backgrounds who have significant financial obligations to their families.
- Horace W. Goldsmith Fellowship: For students who have demonstrated leadership in the nonprofit sector.
- RISE Fellowship: For those committed to serving under-resourced communities in the U.S.
- John H. McArthur Canadian Fellowship: Specifically for Canadian citizens.
3. External & Foundation Scholarships
Many students supplement their HBS aid with outside awards. HBS allows you to keep up to $40,000 in outside scholarships to reduce your student loans before they start reducing your HBS grant.
- Boustany MBA Harvard Scholarship: Awarded once every two years to an exceptional student (priority to Lebanese descent). It covers roughly 75% of tuition.
- Life Science Fellowship: For students with a strong background in life sciences or biotechnology.
Estimated Cost of Attendance (2025–2026)
Budgeting for 2026 should account for a 3–5% annual increase.
How to Apply: A 3-Step Process
- Apply to the MBA Program: Submit your main application, including your GMAT/GRE scores, essays, and recommendations.
- Submit Financial Documents: After admission, complete the HBS Financial Aid Application. You will need to provide three years of income history and details about your savings and assets.
- Interview for Fellowships: Some specialized awards (like the George Leadership Fellowship) may require an additional interview or essay during your first or second year.
Pro-Tip for International Students: HBS offers the same need-based aid to international students as it does to U.S. citizens. However, you should start your search for external country-specific scholarships (like Fulbright or Aga Khan) at least 12 months before you plan to enroll.