Students who take a leave in the first two weeks of the term typically are not charged tuition for that term. Policies may vary for other expenses, such as materials fees, housing, and health fees. Beyond the two-week period, students who take an involuntary or voluntary leave will ordinarily be charged tuition according to the following tuition and fee adjustment calendar:


On or before: Fee Adjustment:
September 15 one-fourth tuition for the term
October 15 one-half
November 15 three-fourths
after November 15 full tuition


on or before: Fee Adjustment:
February 15 one-fourth tuition for the term
March 15 one-half
April 15 three-fourths
after April 15 full tuition

Any student who leaves the University with an amount due on their student bill that is unpaid for 60 days or more may be subject to collection activities. Costs associated with collecting an unpaid account will be added to the student’s outstanding debt and must be paid in full.

Financial Aid

If you have a need-based HBS scholarship, your amount will be prorated based on the tuition you will be charged. The remainder will be forfeited. You will need to reapply for financial aid when you return to the MBA program. Financial aid is not available for the time you are not actively enrolled at HBS.

If you have a Federal Direct Student Loan (i.e. a Federal Unsubsidized or Graduate PLUS Loan), MBA financial aid will do a required Return of Title IV calculation to determine the amount that must be returned to the US Department of Education. This calculation is based on your time of withdrawal.

Important details for student loan borrowers:

  • Because you will no longer be enrolled, you may go into repayment on your student loan(s). Please note that federal loans have a one-time, six-month grace period. Private loan repayment terms vary. You should contact your loan servicer to confirm when your repayment will begin. Once you reenroll in the MBA program, you will be eligible for in-school deferments.
  • All students who have borrowed a Federal Direct Student Loan or a private loan from the Harvard University Employees Credit Union (HUECU) are required to complete exit counseling. The purpose of the exit counseling is to inform you of your rights and responsibilities for the loans you received while enrolled at HBS. Financial Aid will provide exit counseling information via email.
  • It is important that you stay in good standing on your student loans. If you have any trouble making payments, you are encouraged to contact your loan servicer right away. Deferment or forbearance options may be available to you.