Step-by-Step Guide to Harvard University Scholarships for Business Majors

Are you passionate about business and dreaming of studying at Harvard University? Whether you’re aiming for an undergraduate degree in economics or business or planning to apply to Harvard Business School (HBS) for your MBA, scholarships can make your dream more affordable. In this guide, you’ll find everything you need to know about Harvard scholarships for business majors: who they’re for, how to apply, what to expect, and tips to help you stand out.

Why Apply for Harvard Business Scholarships?

Harvard’s business scholarships are about more than just money. They’re about empowering future leaders, entrepreneurs, and innovators. Here’s why you should consider applying:

• Financial Support: Reduce the burden of tuition and related college expenses.

• Recognition: Stand out for your academic achievements and leadership potential.

• Networking: Connect with top professors, alumni, and peers in the business world.

• Personal Growth: Develop your skills and confidence for a global career.

By applying, you’re not just seeking funding—you’re joining a community that believes in your future.

Types of Harvard Scholarships for Business Majors

Harvard offers several scholarships and financial aid options for business students, both at the undergraduate and graduate (MBA) levels.

1. Harvard College (Undergraduate) Scholarships

• Who it’s for: Students majoring in economics, applied mathematics, or other business-related fields.

• What it covers: Up to 100% of demonstrated financial need (tuition, fees, room, and board).

• How it works: All aid is need-based—there are no merit-based undergraduate scholarships.

2. Harvard Business School (HBS) Scholarships

• Who it’s for: MBA students at Harvard Business School.

• What it covers: HBS Fellowships (need-based) can cover up to full tuition and living expenses.

• Specialty Fellowships: Some fellowships are for students from specific backgrounds (e.g., women, minorities, international students, entrepreneurs).

3. External Scholarships

• Who it’s for: Undergraduates and MBAs.

• What it covers: Awards from private foundations, business organizations, and home country governments.

• Examples: Forté Foundation Fellowships (for women in business), Toigo Fellowships (for underrepresented minorities), and more.

Eligibility Criteria

Each scholarship has its own requirements, but here are the general criteria:

• Admission to Harvard: You must be admitted to Harvard College or Harvard Business School.

• Demonstrated Financial Need: For most aid, you must show that you and your family cannot pay the full cost.

• Academic Excellence: Harvard is highly competitive, so strong grades, test scores, and leadership are important.

• Application Materials: Essays, recommendation letters, and official documents are required.

Application Process: Step-by-Step

Applying for Harvard business scholarships is straightforward if you follow these steps:

Step 1: Research Your Options

• Visit the Harvard College or Harvard Business School financial aid websites.

• Review all available scholarships, fellowships, and external awards.

• Make a checklist of deadlines and required documents.

Step 2: Prepare Your Admission Application

• Undergraduates: Complete the Common Application or Coalition Application.

• MBA Applicants: Complete the HBS online application.

• Gather transcripts, test scores, essays, and recommendation letters.

Step 3: Indicate Your Need for Financial Aid

• On your application, check the box indicating you want to apply for financial aid.

• This does not affect your admission decision (Harvard is need-blind for undergraduates; HBS is need-blind for U.S. citizens and permanent residents).

Step 4: Submit Financial Aid Forms

For Undergraduates:

• CSS Profile: Required for all students seeking aid.

• FAFSA: U.S. citizens and permanent residents only.

• Income and asset documentation: Translated into English and converted to U.S. dollars if needed.

For MBA Students:

• HBS Financial Aid Application: Complete after admission.

• Income documentation: Tax returns, pay stubs, or other proof of income.

• Other forms: Some fellowships may require additional essays or references.

Step 5: Apply for External Scholarships (Optional)

• Research scholarships available for business students in your country or field.

• Prepare separate applications as needed.

Step 6: Track Your Application and Respond to Requests

• Monitor your email and application portal for updates.

• Respond promptly if Harvard requests additional information.

Step 7: Receive Your Admission and Financial Aid Decision

• If admitted, you’ll receive a financial aid package outlining your scholarships and support.

• Review your offer and accept if you’re happy with the terms.

What Documents Do You Need?

Here’s a checklist to help you get organized:

• Completed application form (Common App, Coalition App, or HBS portal)

• Personal statement/essays

• Official transcripts (translated if not in English)

• Standardized test scores (SAT/ACT for undergraduates, GMAT/GRE for MBA)

• Proof of English proficiency (TOEFL/IELTS)

• Letters of recommendation

• CSS Profile (for all undergraduates)

• FAFSA (for U.S. citizens/permanent residents)

• Income and asset documentation (for financial aid)

• Resume or CV (especially for MBA applicants)

• Additional essays for specialty fellowships (if required)

Tips for a Successful Application

• Start Early: Give yourself plenty of time to gather documents and write your essays.

• Be Honest: Provide accurate information about your family’s finances and your background.

• Tell Your Story: Use your essays to share your unique experiences, challenges, and business ambitions.

• Highlight Achievements: Showcase your leadership, entrepreneurial projects, and community involvement.

• Seek Strong Recommendations: Ask teachers, mentors, or employers who know you well.

• Proofread Everything: Make sure your application is clear, error-free, and professional.

• Apply broadly: Consider both Harvard and external scholarships to maximize your funding.

Frequently Asked Questions (FAQs)

Q: Does Harvard offer merit-based scholarships for business majors?
A: At the undergraduate level, all aid is need-based. HBS offers need-based fellowships, but some external awards are merit-based.

Q: Can international students get business scholarships at Harvard?
A: Yes! Both Harvard College and HBS offer need-based aid to international students.

Q: What is the average HBS Fellowship award?
A: The average HBS Fellowship is about $46,000 per year, but some students receive more or less based on need.

Q: Can I apply for both Harvard and external scholarships?
A: Absolutely. External scholarships can supplement your Harvard aid.

Q: Do I need to reapply for financial aid every year?
A: Undergraduates reapply annually. HBS aid is typically awarded for each year of the MBA program.

Real Stories: Business Students at Harvard

Sarah from Kenya:
“I thought Harvard was out of reach, but the need-based aid covered almost all my costs. Now I’m majoring in economics and leading a business club on campus.”

Luis from Brazil:
“As an MBA student, I received an HBS Fellowship and a Forté Foundation scholarship. The financial support let me focus on my studies and networking.”

Common Mistakes to Avoid

• Missing Deadlines: Harvard’s deadlines are strict. Mark them on your calendar and set reminders.

• Incomplete Applications: Double-check that you’ve submitted all required documents.

• Not Applying for External Scholarships: Don’t rely on Harvard alone—apply for other scholarships too.

• Weak Essays: Take time to write thoughtful, personal essays that show your passion for business.

• Underestimating Your Need: Be honest about your financial situation so Harvard can provide the right support.

Additional Resources

• Harvard College Financial Aid Office

• Harvard Business School Fellowships

• Forté Foundation Scholarships

• Toigo Foundation Fellowships

• CSS Profile Information

Conclusion: Take the Next Step Toward Your Harvard Business Dream

Harvard University’s scholarships for business majors make a world-class education possible for talented students from every background. By following the steps in this guide, preparing a strong application, and sharing your unique story, you can put yourself in the best position to succeed. Remember, Harvard’s scholarships aren’t just about money—they’re about investing in your future as a leader in business.

Ready to apply?
Visit the Harvard financial aid website, gather your documents, and begin your application today. Your journey to Harvard starts now. Good luck!

If you have more questions or need personalized advice, reach out to Harvard’s financial aid office directly. Your business dream is within reach, and Harvard scholarships are here to help you achieve it.