Thoughts on Financial Aid
Last night I had the privilege of attending the 17th annual “Fellowship Dinner” at HBS. The dinner is for current students who have received need-based aid to study at HBS and the donors who make it possible. It was an impactful evening (!) and it drove home a few points for me about how financial aid works at HBS that I thought I’d share:
1. SCALE IMPACT: There were hundreds of students and donors in attendance. I intellectually know that 50% of all HBS students receive an average fellowship of $74,000 over the two years (money that doesn’t need to be paid back). But seeing everyone together—filling up three basketball courts in the HBS gym (Shad Hall)—I was struck by how many people’s lives are impacted for good.
2. PERSONAL IMPACT: But with that “scale” the way aid works at HBS is very individual and personal. See, when alumni give, their money is not just put in a big pot and divvied up among students with need. Nor are fellowships a behind-the-scenes way of discounting tuition for some students. The funds are real money from real people, and each donor’s contribution goes to a specific student. At the Fellowship Dinner, those giving and those receiving sit next to one another, and students are able to personally thank their benefactors. At my table last night, I saw great conversations, genuine heartfelt gratitude, and budding mentor relationships take hold. It was moving.
3. LIFETIME IMPACT: Finally, I was amazed that 150+ alumni donors and guests were present. These are busy people with busy lives all over the world. But here they are on campus to support these students. Many were fellowship recipients themselves as HBS students and feel an enduring connection to the School.
More info about Financial Aid can be found on our website and in this webinar.
