If you have not thought about the cost incurred in getting an MBA education from the best Ivy League business school (HBS) in the country, then it is time that you give serious thought to it, obviously along with your GMAT preparation. One cannot really say that MBA education at Harvard Business School is costlier or more affordable when compared to other business schools. However, what you can be sure of is that every single penny spent towards the gratification on the MBA dream is worth it. More than what you learn, what make it all the more precious are the associations you form here and the six figure remuneration jobs after successful completion of the course.

So, what is the total cost?

The overall cost of Harvard MBA programs differs from student to student, depending upon their lifestyle. However, when considered from strictly academic and course requirement point of view, the major components of the course costs are tuition fee, university health services fee, Blue Cross/Blue Shield, Program Support fee and Room& Utilities fee. Personal expenses are also added to the aggregate of other costs for the purpose of determining the financial aid. These expenses depict an average amount, true for a majority of the students, as seen from the previous experience.

Taking into consideration all the information mentioned above, the cost of MBA education at Harvard is as follows:

Single Student: $84,000

Married/DP:      $97,800

Married/DP:      $109,400
(with one child)

Married/DP:      $116,800
(with two children)

For more information and complete breakdown, visit http://www.hbs.edu/mba/admissions/costsummary.html

Housing options for Harvard Business School students Read more…

As a student, you should always give first preference to scholarships in the matters of financing. However, the Harvard Business School as an institution first extends a loan to the admitted students who demonstrate financial need and then only extends them financial help through fellowship programs. Let us take a quick look on all the options available:

Student Loans

Only single students can apply for federal student loans, while married students can apply for private loans. The first step towards a federal loan is to fill the FAFSA form (Free application for Federal Student Aid), after which your Student Aid Report will be prepared and sent to the institutions for the purpose of determining the loan amount to be given. These loans have an upper cap on the amounts and need to be repaid to the concerned authority upon completion of the term along with the interest. Direct Stafford loan, Perkins loan, Direct Plus loan program etc are amongst the most popular federal government loan schemes.

Harvard Fellowship Programs

It is solely a need based financial aid system that functions on the basis of contributions made by the alumni of HBS and other corporate organizations. On an average, more than half of the students enrolled for a particular term at HBS receive fellowships grants for the purpose of financing their education.

The amount of fellowship granted to a student depends upon his savings from the past employment income (you need three years of work experience, remember?), the assets owned, the income and assets of the spouse (in case of married students), scholarship amount (if greater than 10,000 for a single term) and the base loan package amount.

The main aim of Harvard Fellowship Programs is to help the students with the most minimum resources to finance their MBA education. Students are not allowed to take an undue advantage of the fellowship grants program. For more information on HBS fellowship, visit http://www.hbs.edu/mba/admissions/hbsfellowship.html

Scholarships and Grants at Harvard University

Since Harvard Business School is a part of the Harvard University, the students getting admitted to HBS are eligible for the majority of the scholarship programs and grant schemes provided by the Harvard University. Rubenstein Fellowship Programs, Life Sciences Fellowship, Horace W. Goldsmith Fellowship etc are the most generous fellowship programs at Harvard University. HBS students who fulfill the eligibility criteria outlined under various programs can apply for them and receive financial aid.

Harvard Business School, more popularly called as the HBS does not need any introduction. Striding its hallowed walls is the ultimate dream come true of every MBA aspirant. In addition to the world class learning resources, superb faculty, jobs paying six figure salary and the rush of being from Harvard.

If you aspire to be precisely there, then this is the precise time to fill in the application form for class of 2013, if you haven’t already done so. Given below are the admission and eligibility requirements which you must fulfill for the admission committee at HBS to review your application.

What is the deadline for submitting the application for Class of 2013?

Though they say the world may end in 2012, take a chance and apply for the HBS MBA program commencing in the year 2011. Who knows, you may get really lucky! Read more…