Harvard Business School interviewBeginning with the HBS MBA Class of 2020, Harvard Business School has announced it will award a new Forward Fellowship to support MBA students from lower-income backgrounds to ensure that students from all socioeconomic walks of life continue to be part of the rich diversity that fuels the HBS community and the case-method classroom.

The fellowship is designed specifically for students who carry significant financial burdens or obligations as a result of their family background and circumstances.

Awards will range from $10,000 to $20,000 in each year a student applies, above and beyond the need-based aid that the school offers.

“At HBS, we are intent on and proactive about maintaining the diversity of our student body and supporting individuals from all backgrounds,” said Chad Losee, the Managing Director of Admissions and Financial Aid. “We believe it is important to acknowledge both where each of our students is now and how far they have come. The information we gather in the Forward Fellowship application will enable us to identify incoming students for whom this additional aid will go a long way.”

Unlike regular need-based fellowships that consider a student’s individual financial situation, the Forward Fellowship’s application process will take into account the student’s family circumstances and financial history so the available funds can be distributed to those who need it most. The awards are intended to alleviate some of the financial concerns associated with earning an MBA and to help these students make an investment in themselves.

“We are grateful for the generous support of our alumni and friends, who share Harvard Business School’s commitment to investing in our students and who make fellowships possible,” Losee said. “We are excited about the Forward Fellowship’s potential to support talented and ambitious students during their two transformative years here and as they head out to make a positive difference in the world.”