Harvard University MBA Scholarship Program in USA

Harvard Business School (HBS) is widely known for its case-method MBA, elite network, and strong career outcomes — but it also runs one of the most generous need-based scholarship programs among top business schools. This post dives deep into the Boustany Foundation Harvard MBA Scholarship, how it works, its benefits, eligibility, and why it’s such a special opportunity.

What Is the Boustany Foundation?

The Boustany Foundation is a philanthropic organization committed to empowering high-achieving students by giving them access to world-class educational opportunities. On its website, the Foundation emphasizes supporting “highly talented individuals … to maximize their potential,” particularly through postgraduate scholarships for MBA programs.

Among its flagship scholarships is the Harvard MBA Scholarship, a selective award made once every two years.

Scholarship Details

Here is a breakdown of what the Boustany Harvard MBA Scholarship covers, plus the key responsibilities of selected scholars:

What’s Covered

• 75% of Tuition Fees: For the full two years of Harvard’s MBA program.
• Internship-related Costs: Travel to Monaco, accommodation, and food for the two months of internship.
• Internship Experience: Though unpaid, the internship is structured to provide meaningful, mission-driven work aligned with the Foundation’s goals.

Scholar’s Commitments / Responsibilities

• Two-month Internship in Monaco: Scholars spend a summer (or agreed two-month period) working at the Foundation’s office.
• Internship Projects: These are not menial tasks: scholars may be working on scholarship design, raising awareness, or other substantive projects.
• Deliverables / Work Scope: The specific project is defined on the first day and is influenced by both the scholar’s interests and the Foundation’s objectives.
• Engagement with the Foundation’s Mission: Scholars are expected to contribute to the broader vision of the Boustany Foundation, not just complete tasks.

Eligibility Criteria

To be considered for the Boustany Harvard MBA Scholarship, candidates need to meet specific criteria, as outlined by the Boustany Foundation:

1. Admission to Harvard MBA
   • You must already have an offer of admission from Harvard Business School to apply.
   • This means your MBA application must be successful before you can even apply for the scholarship.
2. Academic Excellence
   • Applicants must demonstrate “excellent academic background” and remarkable promise.
   • Though not all parts of the evaluation are strictly academic, academic track record is a key component.
3. Leadership & Potential
   • The Foundation looks for “considerable promise” — meaning future leaders, innovators, or socially minded changemakers are ideal.
   • Strong professional experience, clear career goals, and leadership potential will likely strengthen your case.
4. Nationality
   • The scholarship is open globally — candidates from any country can apply.
   • However, preference is given to applicants of Lebanese descent.
5. Standardized Test Score
   • GMAT scores are required as part of the application to the Foundation.
   • This aligns with typical MBA admission expectations.
6. Documentation
   • You need to submit your curriculum vitae (CV) with a photograph.
   • You must also send your Harvard MBA acceptance letter as proof of admission.

Application Process

Here’s how to apply for this scholarship, based on the process outlined on the Boustany website and other credible sources:

1. Get Admitted to Harvard Business School
   • Begin with the Harvard MBA application (essay, GMAT, recommendation letters, etc.).
   • Once you receive an admission offer, you’re eligible to apply to the Boustany Foundation.
2. Prepare Your Documents
   • Prepare a CV / résumé (with a recent photo).
   • Make sure you have your GMAT score ready.
   • Secure a copy of your Harvard acceptance letter.
   • Consider writing a short cover note / email explaining why you’re applying, your vision, and how you align with the Foundation’s mission.
3. Submit Your Application
   • Email your application to: [email protected]
   • Include all required documents in your email.
4. Shortlisting & Interviews
   • If shortlisted, you will be invited to one or more interviews by the Foundation.
   • These interviews assess fit, vision, leadership, and potential.
5. Decision & Award
   • The Foundation reviews applications, interviews candidates, and then announces the winner (one candidate) in June.
   • The scholarship is awarded every two years, so timing your application is crucial.
6. Internship Planning
   • After being awarded, scholars coordinate their two-month Monaco internship with the Foundation.
   • Dates are determined on a case-by-case basis, based on their availability and the Foundation’s schedule.
   • On the first day, a project scope is decided based on mutual interests between the scholar and the Foundation.

For more information, visit the official scholarship website.

Important Deadlines & Cycles

• The application deadline for the scholarship is 31 May (every two years).
• The award decision is made in June of the same year.
• The next cycle, according to Boustany, will be for the class starting in Autumn 2027.
• Because it’s biennial, missing a cycle means waiting two years for the next opportunity.

Why This Scholarship Matters

Here’s why the Boustany Harvard MBA Scholarship stands out — and why it’s more than just financial support:

1. Prestigious University
   • Harvard Business School is globally recognized as one of the top business schools in the world. An MBA from HBS opens doors across industries, geographies, and roles.
   • Aligning with a foundation that values global leadership amplifies the prestige.
2. Significant Financial Support
   • The scholarship offers 75% of tuition fees for the full two-year MBA program at HBS.
   • This reduction is substantial, given that HBS tuition is quite high. By easing that burden, recipients can focus more on academics, leadership, and long-term impact.
3. Global and Inclusive Reach
   • While the award is open to candidates of any nationality, there is priority given to candidates of Lebanese descent.
   • This balance shows the Foundation’s commitment to both merit and its cultural roots.
4. Selective but Personal Process
   • Only one candidate is selected in each cycle (every two years).
   • Shortlisted candidates go through one or more interviews with the Foundation.
   • The selection is about more than academics: they look for promise, leadership, maturity, and alignment with the Foundation’s mission.
5. Long-Term Value
   • Beyond tuition support, the internship cements a relationship with the Foundation. Scholars gain unique network access, mentorship, and a platform to contribute to philanthropic work.
   • This kind of scholarship can shape not just your MBA experience, but how you engage with social impact and leadership beyond school.

Challenges & Considerations

No scholarship is a silver bullet, and this one comes with its own considerations:

1. Competition Is Fierce
   • Since the award is biennial and only one candidate is selected, competition will be intense. You must not only be admitted into HBS but also stand out in the Foundation’s interview process.
2. Unpaid Internship
   • The two-month internship is unpaid. While costs are covered, you should be ready for the opportunity cost — two months out of a summer could otherwise be used for a paying internship or other projects.
3. Relocation for Internship
   • The internship takes place in Monaco, which might require logistical planning (visas, travel, accommodation), even if covered by the Foundation. Adjusting to a new environment for two months can be demanding.
4. Biennial Timing
   • Because it’s offered only every two years, missing one cycle can delay your scholarship plans. If your application to Harvard doesn’t align with the Boustany cycle, you may need to wait or seek alternative funding sources.
5. Partial Tuition Only
   • The scholarship covers 75% of tuition — not full tuition. You’ll need to plan for the remaining 25% of costs, plus living expenses during those two years.

Tips to Maximize Your Chances of Winning

Here are some tactical tips if you plan to apply for the Boustany Harvard MBA Scholarship:

1. Prepare Early
   • As soon as you apply to HBS, plan your scholarship application in parallel. Gather your CV, GMAT, and letter of admission.
   • Reflect on your experiences and how they align with the Foundation’s mission; this will help in interviews.
2. Craft a Strong Application Package
   • Your CV: Make it mission-driven and highlight leadership, impact, and personal growth.
   • Cover Note: Explain why you’re drawn to the Boustany Foundation, what inspires you about their work, and how you will contribute during the internship.
   • Interview Prep: Be ready to talk about past achievements, future vision, and how your MBA will serve a broader purpose.
3. Show Strategic Fit
   • Think deeply about the internship — what kind of project would you want to lead or contribute to at the Foundation? Be ready to propose ideas.
   • Demonstrate that you understand not just “business,” but also “philanthropy” in your personal and professional goals.
4. Network & Seek Mentorship
   • Connect with past recipients if possible (via LinkedIn or alumni networks) to understand their experience and what they emphasized in their applications.
   • Seek advice from mentors, professors, or current MBA students about effective interview strategies.
5. Plan Financially
   • Because the scholarship doesn’t cover everything, plan how you will fund the remaining 25% of tuition plus your living costs. Look into loans, other scholarships, or family support.
   • Make sure you understand the implications of deferring internship opportunities: is the unpaid internship worth it compared to a paid summer job in industry?

Conclusion

The Boustany Foundation Harvard MBA Scholarship is a rare and powerful opportunity. It bridges world-class business education with a mission-driven internship, and significantly reduces financial burdens for the selected scholar. Even though it’s highly competitive, the rewards go beyond just tuition: you get experience, alignment with a philanthropic mission, and the potential to shape future scholarship programs yourself.