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MBA Road Trip: Harvard Business School

By U.S. News & World Report

From Day One at Harvard Business School, students step into the shoes of so-called protagonists — business leaders grappling with complex issues such as expanding operations into a new foreign market or addressing social media strategy — and work toward solutions together.

During class discussions — participation often counts for half the grade — professors are “more of a facilitator than they are an instructor,” says first-year student Ben Zatlin, 27, who worked in engineering and manufacturing roles at Abbott Laboratories before coming to Harvard.

This case method of instruction has been the cornerstone of the MBA program here for some 90 years, and all told, students work through more than 500 case studies. The highly credentialed faculty includes innovation expert Clayton Christensen and world-renowned strategy pioneer Michael Porter, as well as former executives of companies like General Motors, Amgen and Fidelity.

[See photos of the 20 top-ranked business schools.]

In 2011, in an effort to inject more experiential learning into what is a standardized first-year program, the school added a yearlong hands-on component, Field Immersion Experiences for Leadership Development, to the curriculum. While tradition is a vital part of Harvard’s DNA, “we can be simultaneously classic and contemporary,” says Dean Nitin Nohria.

After some background prep and a course focused on sharpening interpersonal skills, students might spend 10 days in January in India, Brazil or another emerging market developing a car-sharing service for workers, say, or creating a mobile app for a company. Then they work in small teams to develop a microbusiness that their peers can “invest” in through a simulated stock market.

With more than 1,850 MBA students, Harvard has the highest full-time enrollment of any business school in the country. To foster community, an entering class is broken into sections of about 90 students who take classes as a group and share in many social activities.

[See how to match your personality with a b-school teaching style.]

More than two-thirds of students live in Harvard-affiliated housing or on the HBS campus in Boston, set on 40 acres just south of the Charles River and about half a mile from the university’s Cambridge hub, where they can take classes and pursue joint degrees.

That “makes it a lot easier to continue conversations,” says second-year student Jennifer Rybak, 27, previously a consultant in New York. Underground tunnels connect many of the buildings — a real plus in winter — and each of the five coveted residence halls features single rooms, most with private bathrooms, and dry cleaning and laundry facilities.

While the close proximity to each other can be an asset, HBS can at times feel “almost like a 24-hour experience,” says second-year student Daniel Lennox-Choate, 29, who arrived after serving in the U.S. Army in Iraq and Afghanistan. It’s a competitive culture, students say, but mostly in a good way.

“You constantly feel humbled” by the achievements of classmates, says second-year student Nabil Mohamed, 27, who has an engineering degree and formerly worked at Vodafone in Cairo. But “it lifts you upwards.”

The school has taken some heat for not being welcoming enough to women, who make up some 41 percent of MBA candidates and 23 percent of the faculty. The administration is intent on adding more female professors and case studies featuring women protagonists.

“This is a long march,” says Nohria, “and we are committed to that journey.”

More From the Top MBA Programs Road Trip:

— Stanford University Graduate School of Business

— Wharton School at the University of Pennsylvania

This story is excerpted from the U.S. News “Best Graduate Schools 2016” guidebook, which features in-depth articles, rankings and data.

More from U.S. News

See the 2016 Best Business Schools

Business Schools Aim to Become Incubators for Innovation

Evaluate 3 Factors When Comparing Business School Acceptances

MBA Road Trip: Harvard Business School originally appeared on usnews.com

Correction 03/20/15: A previous version of this article misstated the age of Daniel Lennox-Choate.

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
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