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Every student admitted to HBS demonstrates a unique ability to become a leader who will make a difference in the world. While admissions are based on merit, financial aid eligibility is based on demonstrated need.

shared investment in your future

Business school is a valuable investment in your future. HBS supports that investment through generous HBS need-based scholarships. These are gifts that do not need to be paid back. Approximately 50% of the class receives a need-based scholarship, and the average amount is $40,000 per year.

Each financial aid package is different. Packages may include a combination of your scholarship, savings, and a student loan. We will help you meet your full financial need through a combination of these resources:

graph showing breakdown of financial aid components
HBS Fellowship (and other HBS Funding if applicable) + Savings & External Sources + Student Loans (Federal & Private)

Alumni-driven Funding

HBS Scholarships are funded by alumni. We try to pair alumni and scholarship recipients who share similar backgrounds or aspirations to create meaningful connections between past HBS classes and those that follow. To learn more, we invite you to hear the stories that make HBS Scholarships so special.

How Need is Determined

HBS Scholarships are based on your income from the last three years, your assets, and your socioeconomic background. Students with higher earnings contribute at a higher rate than students with lower earnings. If you are married and/or have children, we also consider a portion of your spouse’s income and assets, as well as your higher cost of living.

Employer sponsorship and loans are considered outside scholarships for financial aid purposes. Students who receive employer loans or sponsorships are generally not eligible for HBS Scholarships.

The financial aid team will work with you to understand your circumstances and explore different avenues of funding—including HBS Scholarships, external scholarships, and loans, to ensure that everyone admitted to HBS can afford to attend.