Does anyone what it takes to get a scholarship and/or financial aid from Harvard? I'm planning on going in two years but I currently have lots and lots of undergrad debt that's unlikely to be even half paid off by then. I took the GRE instead of the GMAT but had a high undergrad GPA. I am aware that they offer some need based financial aid I'm just wondering how hard it is to get.
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Did you already get into HBS via the 2+2 program? If not, focus first on getting in first. If you did get in, then congrats. HBS actually gives generous scholarships based on both merit and financial aid. A good chunk get some money. Aside from Booth, I think HBS gives out the most scholarships amongst the MBA business schools ">M7 programs.
Yeah I got in, Thanks! Do you have any idea how much they give? It looks like total cost of attendance is in the 150-200k range once you factor in living/tuition/some fun. Also how do merit scholarships end up working out, it seems like everyone who gets in is qualified so how do you stand out? Is it mostly based on UGrad academics or is it more like you write an essay and apply for individual scholarships?
Also when applying for need based aid do you know how they look at debt and cash? Is 70k debt 15k cash viewed differently than 60k debt 5k cash?
Sorry for bombarding with questions and I'm sure the only people who have the definitive answers are their financial aid office but I can't apply until I'm actually getting ready to go. In the meantime I'm having loads of fun refinancing my debt.
I don't attend HBS so I don't have anything too specific. Just going off on friends who got in and went. In terms of financial aid, I think they go off on combination of your earnings and cash. The amount varies; I've heard everything from just 5K/year to like 40K/year. I know that a lot of ex-military and non-traditional types get generous scholarships, which makes sense given their financial situations. Regarding the merit scholarships, I can't think of what you can do to get more money. They base it upon your application and how well you stack up with everyone else who got in. The merit ones are pretty tough to get, so I wouldn't count on it.
The school's estimate of roughly $200K for 2 years is actually quite conservative. That is just enough to cover tuition, fees, and BASIC living expenses (rent, food). If you want to go out a lot, travel to cool places, etc., you need a lot more. To really enjoy b-school and live it up, I recommend having around $50K in savings before school in addition to the loans you take out.
Yeah the only thing I was thinking of for merit would be to take the GMAT as well. I would like to go into consulting down the road and I've heard that some shops consider when you're applying. Given that I'm working a full time job and am already into business school this seems like its most likely a large waste of time.
My current job pays me well but I'd have to stay here quite a while before I would have $50K in savings before school and while I can postpone it to make it a 3+2 or even 4+2 program I'm not sure that it makes sense to do so given how much acceleration the MBA add. Although being more mature/having more work experiences is also valuable.
Good to know about the GMAT, honestly probably wouldn't have taken it anyways but good to know that I'm not losing anything.
I like my current job and it has room for professional growth but when I get the email asking if I want to extend or go to Alliston I can't really imagine postponing. Granted this means I'll be showing up with plenty of debt and somewhat meager savings. Thanks for the advice!
HBS International Student (Financial Aid/Scholarship) (Originally Posted: 02/10/2014)
Hello mates, I am wondering how an international student can get into HBS ? I mean get a full scholarship or maybe financial aid because you all know that HBS is ridiculously expensive to pay from one's pocket. GPA is really really nice. Have extracurricular activities experience as well. Any ideas ? Thanks in advance,
According to Lloyd Blankfein, the international students at HBS aren't exactly in need of financial aid.
http://dealbook.nytimes.com/2014/01/24/goldmans-cautious-approach-to-hiring-the-well-connected/?_php=true&_type=blogs&_r=0
HBS offers financial aid first on a need-basis and then on its desire to want you. There is enough money in its endowment to support both US and international students. But, as HBS Admissions Director Dee Leopold says in her blog
hbs.edu/mba/admissions/Pages/from-the-admissions-director.aspx?showall=1">hbs.edu/mba/admissions/Pages/from-the-admissions-director.aspx?showall=1">http://www.hbs.edu/mba/admissions/Pages/from-the-admissions-director.aspx?showall=1
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