MBA

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Annual Cost of
Attendance
At HBS, we consider getting your MBA a shared
investment in your future. Our students meet the
annual cost of our MBA program through
scholarships, savings, and student loans.

The HBS Cost of Attendance includes both direct

and indirect expenses. Direct expenses, tuition and
fees, are charged directly to your student bill.
Indirect expenses, such as living expenses, are
more flexible. This annual cost of attendance
assumes a nine (9) month academic year and a
moderate student lifestyle. You may receive a
combination of need-based scholarships,
complementary fellowships, outside scholarships,
and student loans, up to the Cost of Attendance for
the academic year.

A Shared Investment in Your Future

$80,000
average need-based scholarship awarded over two
years

$43m
in aid distributed each year

$150,500
median starting salary after HBS

$30,000
median signing bonus after HBS

2022-2023 MBA Student Budget Class

2023 (EC) and Class of 2024 (RC)-9
months
SINGLE MARRIED MARRIED
WITH ON
CHILD

TUITION $73,440 $73,440 $73,440

HUHS STUDENT $1,304 $1,304 $1,304

HEALTH FEE (SHF)

STUDENT HEALTH $4,080 $4,080 $4,080

INSURANCE PLAN
(SHIP)

HUSHP FOR STUDENT $0 $8,464 $12,962

SPOUSES/DEPENDENTS

COURSE & PROGRAM $2,550 $2,550 $2,550

MATERIALS FEE

ROOM & UTILITIES (9 $14,850* $23,120** $29,700

MONTHS) ($1,650/mo) ($2,569/mo) ($3,300/

LIVING EXPENSES (9 $16,540 $21,350 $25,880

MONTHS) ($1,838/mo) ($2,372/mo) ($2,876/

TOTAL $112,764 $134,308 $149,91

COMPUTER (VARIABLE; $1,500 $1,500 $1,500

NOT INCLUDED IN
ABOVE BUDGETS)

*based on average area market rate for 2 bedroom apartment

w/roommate
**based on average area market rate for 1 bedroom apartment
***based on average area market rate for 2 bedroom apartment

2021-2022 Cost of Attendance: Class of 2022

and Class of 2023

Please note that eligibility for Federal student aid

is based on the single student budget.

Visit the MS/MBA: Engineering Sciences and

MS/MBA Biotechnology: Life Sciences Program
Admissions & Financial Aid pages for the Cost of
Attendance for each program.

IMPORTANT ANNUAL COST OF

ATTENDANCE DETAILS

9 Months of Classes, 12 Months of Rent

The academic year is nine months. While HBS

dorms have a nine-month lease, off-campus
housing often requires a 12-month lease. If you
live off campus, or stay for a summer program, you
will need to cover the additional three (3) months’
rent, as well as utilities and monthly expenses.

Federal Student Aid

According to Federal regulations, total eligibility for

Federal loans is based on the total annual cost of
attendance for a single student.

Health Insurance

Health insurance coverage is mandatory. The

Annual Cost of Attendance above shows two
separate charges for health insurance. The Student
Health Fee (SHF) is mandated for all students and
may not be waived. However, if you participate in
another health insurance plan with comparable
coverage to the Student Health Insurance Plan
(SHIP), you may waive the SHIP portion of your
health fees.

Optional Activities

There are countless opportunities to participate in

optional activities during your time at HBS. While
the MBA Program Cost of Attendance makes
allowances for many of the typical expenses, there
is no way to anticipate specific costs for each
individual student. It is important to understand
that students who get financial aid will need to
make choices—or plan additional savings to cover
the costs of optional activities.

RELATED LINKS

How do scholarships work?

How do student loans work?
Answers to your top questions about financial aid.

"When I receive questions about financial aid from

new HBS admits, I tell them three things: don’t be
afraid to invest in your future, be thorough when
explaining your financial situation, and apply for
every fellowship for which you qualify."

TIM PURDIE
MBA 2020

READ MORE

INDUSTRY/SALARY DATA

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Phone: 1.617.495.6128
Email: admissions@hbs.edu
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