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Considering a Harvard MBA? You’ll want to understand the full financial picture before applying.
Harvard Business School (HBS) offers one of the most prestigious MBA programs in the world, and it comes with a price tag to match.
In this guide, we break down the actual cost of a Harvard MBA, not just tuition, but everything else that goes into your budget. We’ll also walk through scholarship opportunities, financial aid options, and what kind of return on investment you can expect as an HBS graduate. Whether you’re set on Harvard or comparing it to other top business schools, this article will give you a clear, practical view of what it really takes (financially) to earn an MBA from HBS.
What Is the Total Cost of a Harvard MBA in 2025?
The base tuition for the 2025-2026 academic year is $78,700, but that’s only part of the story. When you factor in living expenses, health insurance, books, and other fees, the total cost of the full two-year program is expected to reach $253,072.
Harvard MBA Tuition, Fees, and Living Expenses
| Expenses through the 9-Month MBA Program | Single student | Married student | Married student with One Child | Married student with Two Children |
|---|---|---|---|---|
| Tuition | $78,700 | $78,700 | $78,700 | $78,700 |
| Course & Program Materials Fee | $2,800 | $2,800 | $2,800 | $2,800 |
| Housing | $18,900 ($2,100/mo) | $28,980 ($3,220/mo) | $37,800 ($4,200/mo) | $37,800 ($4,200/mo) |
| Food | $9,100 ($1,011/mo) | $11,480 ($1,276/mo) | $13,780 ($1,531/mo) | $16,070 ($1,786/mo) |
| Transportation | $2,360 ($262/mo) | $4,061 ($451/mo) | $4,110 ($457/mo) | $4,110 ($457/mo) |
| Other Living Expenses | $8,568 ($952/mo) | $10,941 ($1,216/mo) | $13,610 ($1,512/mo) | $15,364 ($1,707/mo) |
| Computer [Variable; not included Total] | $1,500 | $1,500 | $1,500 | $1,500 |
| HUHS Student Health Fee (SHF) | $1,800 | $1,800 | $1,800 | $1,800 |
| Student Health Insurance Plan (SHIP) | $4,308 | $4,308 | $4,308 | $4,308 |
| HUSHP for Student Spouses/Dependents | $0 | $9,892 | $14,994 | $17,562 |
| Total annual cost | $126,536 | $152,962 | $171,902 | $178,514 |
Interested to know MS/MBA program cost? See the full cost breakdown of MS/MBA program and other important details of Harvard MBA COA here.
Read: Harvard Business School MBA: Acceptance Rate, Deadlines, Cost, Requirements, & Program Overview
What Is the Student Health Fee and Student Health Insurance Plan?
The Student Health Fee (SHF) is mandatory for all students unless they can provide proof of comparable coverage. The fee here covers the cost of the Harvard University Student Health Program, which provides comprehensive health care services.
It is important to note that the SHF and SHIP are subject to change each year. Students are advised to check the latest fee structure from the official HBS website.
Harvard MBA Scholarships and Fellowships
Boustany MBA Harvard Scholarship
Application Deadline: May 31, 2025
The Boustany MBA Harvard Scholarship is a merit-based award offered by the Boustany Foundation every two years to an exceptional candidate admitted to the HBS MBA program. This scholarship aims to support outstanding individuals who demonstrate academic excellence and a commitment to making a significant impact in their fields.
Scholarship Benefits
- Tuition Coverage: The scholarship covers 75% of the tuition fees for the two-year MBA program at HBS.
- Internship Opportunity: Recipients are required to complete a two-month unpaid internship at the Boustany Foundation’s office in Monaco.
Horace W. Goldsmith Fellowship
The Horace W. Goldsmith Fellowship at Harvard Business School (HBS) is a prestigious award designed to support MBA students who have demonstrated exceptional leadership and a deep commitment to the nonprofit or public sector.
- Award Amount: Approximately $10,000 per year, totaling $20,000 over the two-year MBA program.
- Number of Recipients: Each year, 7 to 10 incoming MBA students are selected for this fellowship.
How Students Fund Their Harvard MBA (Loans, Financial Aid, Sponsorships)
Paying for an HBS education isn’t easy, but the good news is, most students don’t do it alone. Harvard offers a variety of ways to make the cost more manageable, and most MBA students use a mix of scholarships, loans, and savings to cover expenses.
Harvard Business School offers several other forms of financial support to help students manage costs during and after their MBA:
- Loan Reduction Program: Graduates entering the private sector may be eligible for reduced-interest loans, helping to ease the burden of repayment.
- Loan Repayment Assistance: Managed by the Social Enterprise Initiative, this program supports alumni working in social impact roles by helping them repay their student loans.
- Summer Fellowships: HBS provides funding to support students pursuing summer internships, particularly in lower-paying industries like nonprofits or startups.
- Career Support: Financial assistance and guidance continue after graduation, helping alumni explore career opportunities aligned with their goals while staying financially secure.
Unsure how to afford HBS? Leland coaches can help you win scholarships, plan finances, and apply with confidence.
Need-Based Financial Aid
HBS doesn’t offer merit-based scholarships. Instead, financial aid is awarded purely based on need, which is actually a huge advantage. If your financial situation qualifies, Harvard could cover a significant portion of your tuition through grants that you don’t have to repay. On average, about half of HBS students receive need-based scholarships, with awards averaging around $40,000 per year.
Read: MBA Financial Aid: How to Pay for Business School
Part-Time Work Opportunities
HBS doesn’t have a formal work-study program like undergrad, but there are still ways to earn money on campus. Some students take on research assistant roles, support faculty, or work part-time in student services. These jobs won’t fund your entire MBA, but they can help cover personal expenses like travel or incidentals.
Bottom Line
Yes, Harvard’s MBA is expensive and there’s no sugarcoating that. But it’s also one of the most valuable business degrees in the world. Between the alumni network, career opportunities, and long-term salary upside, it’s an investment many find worth making.
The key is to go in with a clear plan. Take advantage of need-based aid, explore all loan options, and don’t be afraid to ask questions. HBS has the resources to help you make this degree financially possible, but it’s up to you to take the first step.
If Harvard is the right fit for your goals, don’t let the sticker price be the thing that holds you back.
Good luck -- you've got this!
Read next:
- 15+ Affordable Online MBA Programs in 2025
- Harvard MBA Application Deadlines (2024-2025)
- Applying to Harvard Business School: Story of a Current Student | Leland
- Harvard Business School MBA Acceptance Rates | Leland
FAQs
How much does a Harvard MBA cost?
- The total cost of attendance for the full-time MBA program at Harvard Business School is approximately $126,536 per year. This includes not just tuition, but also living costs, health insurance, course materials, and more. The full Harvard MBA cost breakdown reflects a substantial investment in a globally respected general management curriculum focused on leadership and impact.
Does Harvard offer a 1-year MBA?
- No, attending Harvard Business School requires a commitment to a two-year, full-time MBA program. HBS does not offer an accelerated or part-time MBA format.
What’s included beyond tuition (housing, health insurance, travel, etc.)?
- In addition to Harvard MBA fees, the cost of attendance also covers housing, food, personal expenses, medical insurance, travel, and academic transcripts. These items can add significantly to the total expense, so it’s important to plan for more than just tuition when budgeting.
Does Harvard offer need-based or merit-based scholarships?
- Harvard Business School offers only need-based scholarships. Through the HBS financial aid application, both domestic and international students can access various financial aid options based on demonstrated financial need, not academic or professional merit.
What percentage of students receive financial aid?
- Roughly 50% of students attending Harvard Business School receive need-based scholarships. These awards assist students in managing the substantial cost of the program and make a Harvard MBA more accessible for talented applicants from all backgrounds.
Are international students eligible for scholarships or loans?
- Yes, international students are fully eligible to apply for HBS scholarships and can also access specific loan options without requiring a U.S. co-signer. The school is committed to ensuring that both domestic and international students have equitable access to financial support.
How do you get a 100% scholarship for Harvard MBA?
- While rare, students with high financial need, assessed through the HBS financial aid application, may receive significant scholarship support. However, 100% coverage is uncommon. Students can also explore external fellowships to supplement what HBS provides.
What is the average salary for a Harvard MBA?
- Graduates of the Harvard MBA program report an average starting salary of over $175,000, depending on industry and function. Despite one of the lowest tuition fees among M7 programs relative to ROI, attending HBS remains a valuable investment that consistently pays off over time.
