$12.5 Million in Harvard Business School Scholarships For First-Generation Students

Today, Harvard Business School announced a multi-million dollar donation that will benefit MBA students who are the first in their families to go to college.

The $12.5 million donation comes from Jeannie and Jonathan Lavine, both Harvard MBA alumni. The donation from the Lavines is the largest Harvard University scholarships donation ever given to the business school.

And the donation isn’t just generous. It’s personal. Here’s what you need to know about the Lavine’s donation if you have your eyes on an MBA from Harvard, As reported from studentloanhero.com

What Can This Mean For HBCU Students?

Harvard Bussines program is an intensive, two-year residential program leading to an MBA degree. Most of us have never considered Harvard due to finances. Well, 70% of HBCU students are the first in their family to attend college. So, if there is a possibility you could go to Harvard Business School whats stopping you from trying?  Why not you? Why not now? What do you have to lose. We hope someone reading this takes this as a sign to step out on faith.

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Harvard scholarships donation helps first-generation students

Nitin Nohria, the dean of Harvard Business School, hopes the scholarship funds can both increase access to the school and encourage graduates to take lower-paying work in the nonprofit sector. “For many students, being admitted to Harvard Business School becomes a reality only when they know there is financial support available.”

 Harvard Business School relies more on tuition payments than federal aid or grants. However, it does offer help through $35 million in annual financial aid to its students — about $37,000 per year for student recipients.
This donation couldn’t come at a better time for Harvard. Last week, CNBC reported on data from the Harvard Crimson highlighting the disproportionately large makeup of legacy students — students whose family members also attended Harvard.

According to the report, one-third of Harvard’s student body is considered to be legacy, giving them three times more likelihood of admittance. This decreases the odds not just for first-generation students, but any student who doesn’t have family ties to the university.

 

Click here to read the full article Reported from Student Loan Hero

 

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CampusLATELY features national content on Campus Life, Style, College News, Entertainment, Relationships, Health & Fitness, and Career Development, written entirely by top college journalists from 30+ college/universities nationwide.

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