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Does HBS offer merit-based scholarship in addition to its need-based fellowship?

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Does HBS offer merit-based scholarship in addition to its need-based fellowship?

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We have a few very small merit-based awards. When I say very small, we’re talking about an extraordinarily small fraction of our total aid. There’ve been a few special programs set up over the years. But virtually all of the aid that we deal with is need-based. With 1,800 students, HBS has the highest full-time student population in Business Week’s Top 50. Part of the school’s student body is divided between its fall contingent and its January cohort. Is aid also divided for those two groups? Is there a separate budget earmarked for each of those classes, or do you draw from the same pool of aid money? It all comes from the same pool of money.

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