How Financial Aid For The HBS 2+2 Program Works

The 2+2 program at Harvard Business School is a unique opportunity for students to apply to HBS on a deferred basis. Students accepted into the program spend at least two years working followed by two years in the regular HBS MBA program.

While extremely valuable, an MBA from HBS doesn’t come cheaply with a total cost of roughly $111,818. And while students can receive financial aid, some of the details around aid can be confusing.

HBS admissions staff recently broke down a few myths when it comes to financial aid for 2+2 students and what applicants need to know about the process overall.

APPLYING FOR ADMISSIONS VS. FINANCIAL AID

At HBS, the process for applying for admission and financial aid differ greatly. In fact, they’re completely separate processes.

“…our students, including 2+2 candidates, submit a financial aid application after they have been admitted to the MBA program,” according to HBS admissions staff.

Applicants can learn more about the admission process here and the financial aid process here.

ELIGIBILITY

When it comes to eligibility, applicants often assume HBS only considers current income when assessing financial aid.

However, the financial aid office looks at an applicant’s income and assets from the three years prior to matriculation.

“That means, that as a 2+2 student, you will not complete your financial aid application until the spring before you enroll in the MBA program,” according to HBS admissions staff. “In other words, you may not submit your financial aid application until 2-4 years after you have been admitted.”

2+2 AID VS. TRADITIONAL MBA AID

While 2+2 in a unique program that differs from the traditional MBA, applicants can rest assured that 2+2 admits are still eligible for all the same need-based aid as traditional MBA candidates.

“Roughly 50% of our students receive financial assistance in the form of need-based scholarships that do not need to be repaid, and our average scholarship award is $42,000 per academic year,” according to HBS admissions staff.

Sources: HBS, HBS, HBS