Deirdre Leopold, Harvard Director of MBA Admissions and Financial Aid announced that Harvard will continue to provide its MBA students with access to much-needed student loans. Despite the current economic turmoil, students will still have access to loans and financial aid. Additionally, international students will be eligible for the loans without the need for a U.S. cosigner.
In a recent blog post, Leopold declared, "All students - both international and US citizens - will continue to be eligible for Harvard Business School fellowships - the money you don't pay back. This year HBS will award $22 million in need-based fellowships; the average MBA fellowship is $25k per year."
Thus, HBS stands by its need-blind policy in the applicant selection process and continues to encourage students from a wide variety of backgrounds to attend its MBA program.