Harvard Business School announced yesterday that it would provide scholarships covering the cost of tuition and course fees for students with the greatest financial need (approximately 10 percent of its student body). They also committed to increasing scholarship support for students from middle-income backgrounds. This announcement is the latest in Harvard’s efforts to increase socioeconomic inclusivity and reduce the financial barriers to enrolling in the prestigious two-year full-time MBA program.
“We know that talent is much more evenly distributed than opportunity,” said HBS Dean Srikant Datar. “Harvard Business School should be a place where the most talented future leaders can come to realize their potential. We want to remove the financial barriers that stand in their way and alleviate the burden of debt so they can focus on becoming leaders who make a difference in the world.”
The school has also taken the following recent steps to promote socioeconomic inclusivity and reduce financial burden:
Keeping tuition expenses flat since 2019
Launching the Forward Fellowship, which allots funds to students who provide financial support to family members during business school
Incorporating socioeconomic background into the financial aid formula, in addition to personal income, assets, and undergraduate debt
Instituting a need-based application fee waiver
Expanding outreach to first generation college graduates and prospective applicants from diverse backgrounds
Creating a student-led Socioeconomic Inclusion Task Force incorporating students, faculty, and staff
Expanding financial wellness and education programming for prospective and current students
Read the full announcement here.
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