In addition to financial assistance available through HBS, you have access to external sources of funding. We encourage you to explore these potential resources.

If you receive any funding through external sources, you must notify MBA Financial Aid so your financial aid package can be adjusted accordingly.

If you receive an HBS Fellowship, we will reduce your HBS Fellowship only if your total external fellowships exceed $30,000 during the MBA Program. If your total external funding is less than $30,000, we may reduce your loan package in order to lower your graduating debt.

Find information on funding opportunities open to:

A vast amount of scholarship information is available on internet. To help you begin your search, the following sites offer background information and links to other resources. Please note that most of these resources require admission to the MBA Program before you can apply.

Online Scholarship Search:

Funding for Women Students:

American Association of University Women
International Fellowships are available to international women students studying in the U.S. Selected Professions Fellowships are available for minority women who are U.S. citizens or U.S. permanent residents.

For further information, contact:
AAUW Educational Foundation
1111 16th Street NW
Washington, D.C. 20046

Funding for Minority Students:

Robert A. Toigo Foundation
The Toigo mission fosters the career advancement and increased leadership of underrepresented talent within the field of Financial Services by creating a fellowship backed by mechanisms for greater inclusion from the classroom to the boardroom.  

The fellowship starts with high potential MBA students with a passion for financial careers and extends to the professional journey toward corporate leadership, entrepreneurship and board placement.  Individuals apply at the pre-MBA stage and are selected prior to the start of business school. 

A recognition award of $1,000 is provided at the beginning of your association with Toigo.  As you begin your second year of business school, you will be eligible to apply and/or be nominated for leadership awards ranging from $3,500 to $10,000 that highlight your demonstrated commitment to the Toigo mission and your peers.

The Toigo Fellow network is one of the most dynamic and impressive groups in the investment industry with more than 1,300 professionals who carry the prestige of the fellowship and assume the responsibilities for promoting the organization's mission and purpose.   By way of financial investment, active career support, industry education and leadership development programming, Toigo aligns with MBAs as a trusted partner and offers an esteemed lifelong affiliation.   

For further information, contact:
Robert A. Toigo Foundation
1230 Preservation Park Way
Oakland, CA 94612
Phone: 510.763.5771

National Society of Hispanic MBAs/Hispanic Scholarship Foundation
Financial assistance for outstanding Hispanic students pursuing a graduate degree in management/business. Awards range from $2,500-$5,000 and one $10,000 award.

For further information contact*:
NSHMBA - HSF Scholarship Program
55 Second Street
Suite 1500
San Francisco, CA 94105
*For an application, please send a self-addressed, stamped, business-size envelope.

Minorities in Government Finance Scholarship
The Government Finance Officers Association offers a Minorities in Government Finance Scholarship of $5,000, awarded to outstanding U.S. and Canadian minority students preparing for careers in state and local government finance.

For details and application information, contact:
Scholarship Committee
Government Finance Officers Association
203 N. LaSalle St., Suite 2700
Chicago, IL 60601-1210

AICPA Scholarship for Minority Accounting Students
Offers scholarship support for minority students with accounting backgrounds. Applications can be downloaded from

American Institute of Certified Public Accountants
1211 Avenue of the Americas
New York, NY 10036

Fellowships for International Students:

British Friends of Harvard Business School Fulbright Scholarships

The British Friends of Harvard Business School was set up by the Harvard Business School Club of London in 1991 to raise scholarship funds for financially needy British students to attend Harvard Business School.  Up to 5 scholarships of $45,000 towards tuition costs are awarded through the highly prestigious UK Fulbright Commission.   In exceptional circumstances a higher award may be made.
Criteria for selection (in addition to the Fulbright criteria):
  • Be a UK citizen.
  • Hold a 2:1 undergraduate degree or equivalent.
  • Be in financial need (earn £50k or less a year).
  • Understand that as part of the J-1visa requirements students must return to the UK for at least two years after graduating with an MBA.  
How to apply:
  • Competition opens 1 August 2017; candidates do not need to hold a firm offer from HBS before applying. The deadline for submission is November 6, 2017.
  • Online application only, to include personal statement, study objective statement, three letters of recommendation.
  • Interviews will take place in April.  Successful candidates will be informed in May.
Fulbright looks for applicants who:
  • Are well-rounded.
  • Have demonstrated academic achievement.
  • Have shown leadership skills and initiative and have been active inside the classroom/lab as well as outside.
  • Possess a curiosity for the US and American culture.
  • Will serve as good ambassadors for the Fulbright Commission and for the UK in the US.
  • Indicate a clear reason for selecting HBS and a desire to give back to the UK and the Fulbright Commission upon returning home.
Further scholarship details and application forms can be obtained from The Fulbright Commission or downloaded from the Fulbright website.
The US-UK Fulbright Commission
Unit 302, 3rd Floor Camelford House,
89 Albert Embankment,
London SE1 7TP
T +44 (0)20 7498 4010
F +44 (0)20 7498 4023


Eduarda Justo Foundation (Spain)
A scholarship program to benefit academically talented, highly motivated MBA students from Spain with a preference for students from Almeria, Spain.

Each scholarship covers the following:

  • University tuition fee
  • 1,600€ monthly for housing, books and supplies
  • 1,000€ (for travel expenses)
  • 2,000€ (for initial expenses)

For further information is available on the website.

Fundação Estudar
Merit-based scholarship opportunity for Brazilian students with leadership and entrepreneurial profiles.

Further information is available on the website.

Instituto Ling Scholarship Program
Annual scholarship program for Brazilian citizens with entrepreneurial spirit and leadership skills to contribute to Brazilian economic, social and cultural development.

Further information, contact:
Tel: +55 51 3533-5710
Tel: +55 51 3533-5712

The Sainsbury Management Fellowship Scheme
Fellowships are available for EU/EEU citizens normally domiciled in the UK. Students are expected to have a first degree in engineering and can demonstrate how they will be able to contribute to UK engineering and business.

For further information contact:
Kevin Brandon, Programme Manager - VP's & CPD
The Royal Academy of Engineering
3 Carlton House Terrace
London SW1Y 5DG
Telephone: +44 (0) 207 766 0600
Fax: +44 (0) 207 930 1549

Harvard Business School Foundation of Germany (HBSF)
Grants a scholarship of up to € 20.000 for a German first-year HBS student. Scholarship will be awarded by the Board of the HBSF according to financial need and personal qualification.

For further information, contact:
Stefan Eishold, President
Harvard Business School Foundation of Germany
c/o ARCUS Capital AG
Ismaninger Strasse 67a
D- 81675 Muenchen, Germany

Boustany Foundation
Granted to an outstanding candidate every two years. Next award will be for the MBA Class of 2019 entering in fall of 2017. Scholarship will cover $90,000 toward tuition fees ($45,000 USD for the first year and $45,000 USD for the second year). The Foundation will also cover travel and accommodation expenses for the internship. The scholarship will be awarded to candidates of any nation but priority will be given to candidates of Lebanese descent.

For further information and specific requirements of this scholarship, please contact:
Mrs. Alison Pitt
Scholarship Admission Officer
Boustany Foundation
1 Avenue des Citronniers
98000 Monaco

Fundacion Mexico en Harvard
Funding for Mexican citizens for graduate study at Harvard. Foundation can be helpful to Mexican students researching all funding opportunities in Mexico.

For further information, contact:
Fundacion Mexico en Harvard, A.C.
Monte Pelvoux No. 220-PH
Col. Lomas de Chapultepec
11000 Mexico, D.F.

Kuwait Investment Authority MBA Scholarship
KIA offers twenty academic scholarships per year to Kuwaiti Nationals seeking to obtain their MBA degree from a top ranked university in the world with high academic standards.  

For more information, please visit their website.

7UP Harvard Business School Scholarship
Created in 2010 by Seven Up Bottling Company Plc of Nigeria to commemorate its 50th anniversary, and aligns with the Company's overall vision of creating a greener future for promising Nigerians. Scholarship covers tuition, board and travel expenses for both years of the MBA program.

For further information and specific requirements of this scholarship, please send email with a copy of your admissions letter to Company will contact you with next steps.

French-American Chamber of Commerce Bellanger Business School Scholarship Program
The French-American Chamber of Commerce Foundation in New York was established in the spring of 2012 to raise funds to provide scholarships to French MBA students studying in the United States and to American MBA students studying in France. For the academic year 2014-15 we expect to award 6 scholarships in the amount of approximately $10,000. View the French-American Chamber of Commerce Foundation Press Release.


UNIQLO HBS Fellowship
The UNIQLO HBS Fellowship Program is for Japanese nationals entering Harvard Business School (HBS) with the objective of supporting students who are not already sponsored by a coporation or other organization. This program will start September 2015 and will continue for three years. It will award up to $200,000 over the course of two years to one recipient at Harvard Business School. This program provides promising individuals, regardless of financial circumstances, the opportunity to become the next generation of business leaders on the global stage.

For further information contact:
CSR Division, Fast Retailing

LIFE Scholarship (Lebanese International Finance Executives)
Lebanese International Finance Executives (LIFE) is a non-for profit membership organization providing a platform to channel the influence of Lebanese Finance Executives worldwide in order to establish stronger bonds, nurture the next genderation and promote Lebanon. The LIFE scholarship provides support to talented Lebanese students - or those of Lebanese descent - with the financial needs to pursue their academic aspirations in the field of finance. It is a unique combination of financial support and mentorship opportunity by a LIFE Senior Member who will provide guidance and advise to the scholars on their professional objectives. To apply, please visit the LIFE website.

Olam International Africa Graduate Scholarship                                    The Olam International Africa Graduate Scholarship offers $58,000 over the two year MBA program for two students from either Nigeria, Ghana, Gabon, Ivory Coast, Tanzania, and Mozambique. Olam International is a global agri-business listed and headquartered in Singapore, growing, sourcing and processing food ingredients and industrial raw materials such as coffee, cocoa, cashew and cotton for over 13,800 customers, including Nestlé, Unilever, and Mars.

Almost 80 percent of Olam's global footprint is in emerging markets, which includes 24 countries in Africa. Our relations with these countries run deep, as we work closely with small holder farmers and employ many people in our plantations and processing plants. However, this also means that we see first hand the challenges that still need to be overcome. To this end, our vision is to: "Support aspiring and capable students to pursue higher education in a leading international institution so that they can become change catalysts and agents towards ensuring food security and safety in African emerging markets".

Our program will cover three disciplines for which we will identify different university partners: Developmental Economics, Business Management, and Public Policy and Administration. In order to fulfill our vision we believe the scholarships are best suited to a post-graduate who can express through a personal statement their commitment to catalyzing change in Africa. Olam is keen to provide mentoring throughtout the course and beyond.

Students will submit a one page personal commitment statement on how they lead change in Africa now and once they graduate. They should submit their current resume and contact information to Ray Steitz, SVP Human Resource, Olam Americas at by September 18, 2016. The two scholarships are for those students who are enrolling at HBS in Fall 2017 and will graduate in June 2019. For more information, contact Ray Steitz.


Funding for Veterans:

Yellow Ribbon Program
For the 2016-2017 year, HBS will contribute $18,000 to each eligible veteran. This contribution is matched by the VA.

Post-9/11 GI Bill
Veterans should fully explore the new GI Bill benefits. Eligible veterans may receive up to the following benefits:

  • VA defined tuition and fee benefit. This was $21,085 in 2015-2016 for a veteran who is 100% eligible for the Post-9/11 GI Bill.
  • Monthly living allowance based on zip code where the school is located for and E5 with dependents.
  • $1,000 annual book and supply allowance

For information on your eligibility, please visit the GIBill website. Students may apply for need-based HBS Fellowships in addition to this benefit.  

Please note that enrolling while on active duty no longer increases eligibility.

In addition, the historic GI Bill programs still operate. In most cases the post-9/11 GI Bill is the best deal. Veterans with longer-term service or special circumstances are urged to seek counsel from the Veterans Administration and organization such as IAVA.

Montgomery GI Bill
The Montgomery GI Bill is intended for veterans who entered the service after July 1, 1985, served two years of continuous active duty, accepted a $100-a-month reduction in their military pay for the first twelve months of service, and received an honorable discharge. The monthly rate depends on the veteran's length of active duty, service in the Selective Reserve, or service in the National Guard. The benefits entitlement period is thirty-six months of full-time enrollment or part-time equivalent in a graduate program.

Survivors' and Dependents' Educational Assistance Program (DEAP/REAP) DEAP provides education and training opportunities to eligible dependents of veterans who are permanently disabled due to a service-related condition, or who died while on active duty or as the result of a service-related condition. The program offers up to 45 months of education benefits. These benefits may be used for degree programs. 

Vocational Rehabilitation

It is the Veteran's responsibility to make sure their file is transferred to the Boston VRE office. Contact HBS MBA Financial Aid Services for details on how to best do this.

For Active Duty Personnel 

Advanced Civilian Schooling (ACS)

HBS has an agreement in place with USMA for four ACS slots. Contact your department head at West Point if you are interested in securing one of the slots if accepted.  It is the service member's responsibility to complete a DA-2125 course listing form in cooperation with the HBS Registrar's office. HBS cannot guarantee future course availability or cross registration status. If a service member is selected for ACS, s/he should contact MBA Financial Aid to obtain the required letter. After the ACS agreement is complete, it is the service member's responsibility to set up sponsored billing.

Funding for New Americans:

The Paul and Daisy Soros Fellowships for New Americans
Fellowships for up to two years of graduate study in the United States. A new American is defined as a resident alien, a naturalized US citizen, or the child of two parents who are both naturalized citizens.

Details and an application, contact:
The Paul and Daisy Soros Fellowships for New Americans
400 West 59th Street
New York, NY 10019
Phone: 212.547.6926
Fax: 212.548.4623

Funding for college students/recent graduates:

Jack Kent Cooke Foundation
Scholarships to college seniors or recent graduates entering graduate programs. Students must be nominated by their undergraduate institutions.
For details contact:
Jack Kent Cooke Foundation
44115 Woodridge Parkway, Suite 200
Lansdowne, Virginia 20176-5199
Phone: Visit the website for contact numbers for specific programs
Fax: 703.723.8030

Funding for Bowdoin College Graduates:

George and Mary Knox Graduate Scholarship
Financial Assistance for Bowdoin College graduates who attend HBS.

Funding for students of public administration, finance and business administration:

George A. Nielsen Public Investor Scholarship
$5,000 scholarship available for students of public administration, finance, business administration or a related field. Student must be a citizen or permanent resident of the U.S. or Canada.

More information or to request an application, contact:
Scholarship Committee
Government Finance Officer Association
203 North LaSalle Street, Suite 2700
Chicago, IL 60601-1210

Funding for Swarthmore College graduates:

The McCabe Fellowship
Awarded to seniors and graduates of Swarthmore College for a year (normally the initial year) of study at Harvard. Awards are administered by the Committee on Fellowships and Prizes and carry a stipend of $5,000.

Recipients may apply for a second year of funding.

Funding for AICPA student affiliate members:

Accountemps/AICPA Student Scholarship
The Accountemps/AICPA Student Scholarship is a competitive award of $2,500 for two outstanding AICPA student affiliate members pursuing careers in accounting, finance, or information systems.

Details and application information, contact:
Accountemps/AICPA Student Scholarship Program
American Institute of CPAs - Team 046
1211 Avenue of the Americas
New York, NY 10036-8775

Funding for LGBT students:

The Point Foundation
Scholarships for LGBT students. Details and application, please contact

Funding for students with a farmworking background:

The Rising Farmworker Dreamfund
Pre-MBA fellowship for students interested in pursing an MBA degree. Mission of RFDF is to leverage the power and resources of business to empower the farmworking community—migrant and seasonal farmworkers and son and daughters of farmworkers. Fellowship supports that mission by giving talented students the opportunity to pursue graduate degrees in management, which will ultimately enable them to become resourceful leaders who give back to their respective communities.
For more information: