Table of Contents
- About Harvard University Scholarship
- Field of Study
- Harvard University MBA Scholarship Worth.
- Other Facts about Harvard University Scholarship.
- Harvard MBA Scholarship: Financial Aid
- How to Determine Harvard MBA Scholarship Need.
- Complimentary Fellowship Awards at Harvard University-
- Other Financial Support Programs
- Eligibility Criteria for Harvard University MBA Scholarship
- How to Apply for Harvard University MBA Scholarship?
- Extra note on Harvard University Scholarship.
- Harvard University Scholarship Application Deadline.
- Frequently Asked Questions on Harvard University Scholarship.
- Our Recommendation
If you’re to ask many of the fresh college graduates their plans after bachelor’s degree, a lot of them would be glad to share their plans of furthering their studies at the top universities in the world like Harvard University.
Unfortunately, the majority of those who wish to study at Harvard University may never get to achieve their goal due to financial constraints. If you belong to this category, we’re glad to inform you that money shouldn’t be a problem anymore through Harvard University scholarship.
Aside from the fact that Harvard University is one of the top universities that offer courses on business, entrepreneurial management, etc, you will get to learn from business tycoons who work as lectures in this institution or occasionally honor conferences on this campus.
Moreover, students from any background, ethnic group, country, etc can apply for Harvard University scholarship.
As many students would love to study at Harvard University, a lot of them are keen to know their chances of being selected and how they can easily get a scholarship at Harvard University.
In this article, we provide an explicit explanation on the vital information you need to know about Harvard University scholarship which includes: an overview of Harvard University scholarship, how to apply, eligibility to this scholarship program, etc.
About Harvard University Scholarship
The Harvard University scholarship is controlled by a non-profitable organization called Boustany foundation. This foundation was established in 2006 by Nabil Boustany and his son Fadi.
The founders thought the best way to reduce illiteracy in society and raise future influencers is by providing financial assistance to eligible candidates from poor backgrounds to study their dream course without running into debt.
Nabil who named the foundation after his name set up the mission to ensure individuals with extraordinary talents, potentials but are from poor backgrounds enjoy the scholarship opportunity.
READ ALSO: Berea College Scholarships For International Students In USA, 2022.
Today, the Boustany Foundation has been actively promoting and spreading the scope of MBA Harvard University scholarship and other financial aid programs to more students all over the world. According to the data gathered, the Boustany Foundation donates approximately $33.3m every year to support the Harvard MBA scholarship program.
The master’s program at Harvard University lasts for two years. Due to the academic calendar, the Harvard University full scholarship is only available once in two years. As a result, students that missed the 2021 scholarship application for the 2023 academic session will wait until the end of the 2021-2022 academic session at Harvard University.
Moreover, as an international student, you should note that Harvard MBA Scholarship is based on your financial needs. Thus, you must be able to prove that you can’t pay for your tuition and other relevant academic expenses.
On the other hand, regular admission to Harvard University is merit-based and all candidates must have good academic records. Applicants that have good academic records and are also great achievers by creating positive social influence, possessing unique talents, etc, stand a better chance of being selected.
Note: The admission to Harvard University is merit-based, but Harvard University scholarship is need-based.
Field of Study
- Entrepreneurial management
- Liberal arts in management
- Public policy
Find out more about the courses you can study for your MBA program at Harvard University.
Harvard University MBA Scholarship Worth.
The Harvard University scholarship program sponsored by the Boustany foundation covers the following expenses.
- The average scholarship amount is $40,000 per year or $80,000 in total.
- The tuition fees that Harvard scholarship cover is worth US$102,200 (US$51,100 per year)
- Harvard University scholarship may cover accommodations and a traveling fee of a student.
Other Facts about Harvard University Scholarship.
- Harvard University scholarship is given to almost 50% of admitted students
- Eligible candidates will register for two months of unpaid internship program by the Boustany Foundation situated in USA
- Eligible candidates working as an intern will participate in diverse projects depending on the organization they work.
Harvard MBA Scholarship: Financial Aid
Before applying for Harvard University full scholarship, you should have adequate knowledge about the various financial aids you’re eligible for.
The financial aids in Harvard University also known as MBAid Journey are divided into three types which are :
#1. Tuition Assistance:
This financial aid is basically to assist students that cannot afford to pay their tuition fee. The financial assistance understands this category includes: Need-based scholarships, student loans, and non-profitable fellowships. Moreover, the Harvard need-based financial assistance aid program is sponsored by alumni.
#2. Summer Fellowships:
As the name states, this financial aid program provides full financial support for students that are interested in applying for summer internships between the first and second year. Summer fellowships financial aid is supported by HBS alumni to help students develop unique skills.
The skills they gather during their internship will equip them to perform well as an employer or employee at the latter years. This internship program will also help students connect with the right set of people that can mentor them until they become independent professionals.
READ ALSO: Top 20 Best Summer Internships for High School Students.
Moreover, this financial aid program is available for two categories of students which are: students joining existing organizations or those planning on establishing a new venture but do not have sufficient capital.
To be eligible for the summer fellowship program, you must first register as a member in an existing fellowship to become a summer fellow.
#3. Career Support and Exploration:
These financial assistance programs are only available for graduates, and it’s always in form of loan reduction or loan repayments.
Because Harvard University is passionate about students’ academic success, the institution gives students that are on loan few options to reduce their debts. These options include:
- Loan Reduction for Private Sector Employees.
Harvard University offers students with high loans reduction financial aid programs to settle a large percentage of the loan they incur. Such students could receive amounts ranging from $5,000 to $15,000; however, the basic criteria for eligibility is that you must be a current employee in a private sector.
- Rock Center Loan Reduction for Entrepreneurs:
This financial aid is a one-time need-based financial award that is basically for students that are business-oriented and have great ideas for anything relating to business/entrepreneurship. To ease students of debt, rock center for entrepreneurship offers amounts ranging from $5,000-$20,000 to graduating MBA students.
- Social Enterprise Loan Repayment Assistance Program (SELRAP):
This financial aid program award is quite different and demands high requirements. To be eligible for this loan reduction program, you must be a graduate and also be serving in managerial positions in a known nonprofit organization or public sector.
The amount for this award range from $5,000-$10,000 and is also available for students who have received need-based HBS Scholarship
How to Determine Harvard MBA Scholarship Need.
If you’re planning on applying for Harvard University scholarship, it is important to keep in mind that the only factor that qualifies you is the level of your need which is known as “need-based“. The level of your need will, therefore, determine the amount you will be eligible to win.
For instance, a student with a very low level of income will have the opportunity to get a higher amount of money as a scholarship than a student with an average income. The reason is that Harvard College does not provide a full scholarship for every student.
In this case, a student with a reasonable amount of monthly income or huge assets may not receive financial support from the university because more attention will focus on students with lesser financial privilege.
Aside from the need-based scholarship, students from a very poor background and some exceptional cases are eligible for certain financial awards. This doesn’t imply that such students will be automatically eligible for the needs-based scholarship, rather, they only have the opportunity to apply for some complimentary awards as students.
Complimentary Fellowship Awards at Harvard University-
#1. John C. Phelan Forward Fellowship-
This financial aid award focuses on students from very poor backgrounds. In most cases, these students are like the breadwinner in their families. Eligible students in this category are given a total amount of $15,000 every year to settle their educational needs which includes school fees, accommodation, transport cost, etc.
#2. Junior Achievement Fellowship-
This award is mainly for students with junior achievement experience. Eligible students will receive a total amount of $10,000 at the end of each year
#3. Horace W. Goldsmith Fellowship-
This award rewards students that demonstrate non-profit leadership with the sum of $10,000 for their first year in school.
#4. The Robert S. Kaplan Life Science Fellowship-
To be eligible for this financial award, it is mandatory that you have a high commitment to science courses. Eligible students are rewarded a sum of $10,000 every year for their tuition and other expenses.
#5. John H. McArthur Canadian Fellowship-
This award is only available for international students that have Canadian citizenship. Eligible students receive the sum of $10,000 yearly as a financial support aid.
Other Financial Support Programs
Students that are not eligible for these awards and Harvard University full scholarship can apply for other financial support programs which includes
#1. Student Loans:
Although admitted students at Harvard University are assured of a debt-free education because the scholarship award covers a large substantial amount of the total academic expenses. However, a student that cannot meet up with Harvard University’s financial contribution demand every month can register for a student loan.
To request a student loan, make sure you fill in the relevant and correct information on your student loan request form before submitting it. Moreover, international students that want to register for student loans should have a U.S citizen to serve as consigner to increase their options for student loans.
#2. Federal Direct Subsidized Stafford Loan:
Another way to get financial assistance aside Harvard University scholarship award is by seeking financial support from the government. To be eligible for a subsidized Stafford loan, you must meet up certain criteria. These criteria include:
- You must fill and complete your Free Application for Federal Student Aid (FAFSA) online before the deadline
- You must be a US citizen or a permanent resident or should be able to meet up all eligibility requirements for a noncitizen.
READ ALSO: How Long Does FAFSA Take to Process? The Complete Guide.
Eligibility Criteria for Harvard University MBA Scholarship
To qualify for the Harvard University MBA Scholarship, the candidate must fulfill all of the following requirements below:
- Candidate must have a solid knowledge of English and must be able to speak the language fluently.
- Candidates must have a good academic record.
- Candidates must have been offered admission to Harvard University for MBA program are eligible for a scholarship in the institution.
- Candidates must apply for Harvard University scholarship before the scholarship deadline.
Although the Scholarship can be awarded to candidates from any country in the world, however, candidates of Lebanese descent get special preference.
Tip: Admitted students are expected to reapply for financial aid the second year on campus to confirm their eligibility
How to Apply for Harvard University MBA Scholarship?
To apply for a Harvard MBA scholarship, you need to fill out the HBS financial aid application after admission to the Harvard MBA program. This will enable you to access the financial aid application once you gain admission into the institution.
You will also receive all the vital information about how to apply for the Harvard University scholarship and the relevant documents you need to submit.
In addition, it is best that you apply for need-based Financial Aid as soon as the application form is out to stand a better selection chance.
Extra note on Harvard University Scholarship.
Once you submit your financial aid application, you will have to wait for a notification indicating whether you’re selected for the scholarship or not. Generally, this process may take about 21-30 days.
Harvard University Scholarship Application Deadline.
The application deadline for the Harvard MBA scholarship 2023 is 31st May, 2023.
To know more about the Harvard University and MBA Scholarship funded by Boustany Foundation, please visit the respective official website addresses below
Frequently Asked Questions on Harvard University Scholarship.
When should i apply for Harvard Scholarship?
January 1. Regular Decision application deadline. Please submit all application materials by January 1st for Regular Decision consideration.
How do i apply for Harvard Scholarship?
To apply for a Harvard University scholarship, you need to fill out the HBS financial aid application after admission to the Harvard MBA program. This will enable you to access the financial aid application once you gain admission into the institution.
Can I study at Harvard for free?
If your family’s income is less than $65,000, you’ll pay nothing. Families who earn more than $150,000 may still qualify for financial aid. For more than ninety percent of American families, Harvard costs less than a public university.
What GPA is required for Harvard?
You need close to a 4.0 GPA to get into Harvard.
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