Summer Fellowships: Awards
The goal of the fellowship award is to supplement the salaries students receive from host organizations to help support summer expenses. The overall award amount is based on the weekly award amount and the length of the fellowship. The weekly award amount is determined based on the organization's contribution with a maximum weekly Fellowship award amount of $600 per week (to bring the maximum amount to $1,200 per week). If students receive additional funding from other sources, these amounts will also be factored into the Fellowship award amount. All students whose applications are accepted will receive notification of an award up to $600 per week based on the organization contribution.
The following table illustrates awards received by students in the summer of 2014.
|< $600||$600||$600 plus organization's contribution|
Award Process and Payments
Applicants will receive a decision with award amount by the date specified in the How to Apply section. Students will receive the HBS Fellowship award in two installments in July and September (the final check will be processed following submission of the final report). Students who anticipate having a financial need before the Summer Fellowship payment is received are encouraged to contact the Financial Aid Office prior to May 20, 2014 to see if they have the ability to borrow additional loans for the current year.
Travel Awards: Travel awards may be available in limited amounts for students, but should not be expected by students as they are calculating their financial needs. If organizations are unable to support a student's transportation to and from the internship site, the student may apply for a travel award. This is intended to cover transportation to and from the internship site for the Fellow and does not cover travel within the internship, travel for partners, or other travel-related expenses such as hotels, vaccinations, etc. After students receive a fellowship, they will be asked to submit a separate request for travel awards. The Committee will grant travel awards on a funds available, case-by-case basis. If travel awards are granted, they generally cover only a portion of the full travel costs and are based on fund availability.
Awards to students are intended to provide additional funds to Fellows to offset tuition expenses. Because services are not provided directly to the Harvard Business School and accordingly do not represent salary compensation, students do not receive a 1099 for the HBS contribution to their fellowship. Harvard will not deduct taxes for U.S. Citizens from their award payments, but international students may have taxes deducted from their award payment. All students should consult with a tax advisor on how to report the fellowship award on their taxes.
Note on Travel and Work Outside of the United States: Students who are working or traveling to countries on the U.S. Department of State Travel Warning list should contact the Social Enterprise Initiative. Your application will be reviewed and determined on a case-by-case basis, based on University and HBS guidance.
Obligations of the Fellow
In fulfilling the goal of giving back to the HBS community and promoting effective transfer of knowledge, each Summer Fellow is expected to fulfill the conditions of the Fellowship detailed below. The Social Enterprise Summer Fellowship funding is contingent upon adherence to the conditions for the entirety of the internship, and funds may be forfeited if conditions are not met.
1. Abide by the HBS MBA Career & Professional Development Recruiting Policies which include not reneging on an offer for the entirety of the Fellowship.
2. Write i) a paragraph for publication and ii) a summary report (3-5 pages) on his or her experience, due no later than the second Friday of September. This is intended to brief alumni donors or clubs who sponsor the program; offer advice to students interested in applying for a Fellowship in the future; increase awareness of program among students.
In addition, the Fellow may be asked to: speak in both organized and informal settings to other students about the summer experience; attend an event with an alumni sponsor; write an article on the summer experience. We also encourage all Fellows to attend a de-briefing session the following fall which will give Fellows the opportunity to meet and share their thoughts with each other.