Award amounts are determined based on total funds available, a thorough review of
the application, and an analysis of the applicant’s projected monthly income.
Awards are designed to bridge the gap between the recipient’s total guaranteed annual
compensation (“salary”) and $130,000 USD, with a maximum award of up to $50,000 USD per year. For example, if recipient’s salary is $95,000 USD, the GO Fellowship
may be up to $35,000 USD.
FIVE YEAR ELIGIBILTIY PERIOD AND SUBSEQUENT AWARD AMOUNTS: HBS MBA alumni are eligible for the GO Fellowship for a 5-year period following graduation.
In each year that a recipient's GO Fellowship is renewed, the maximum potential award
amount for which they are eligible decreases by $10,000 USD.
Example 1: A graduating student applies for a GO: AFRICA Fellowship in the April of their graduation
year and is granted an award. The recipient remains eligible for 5 years following
graduation. Each year, they apply for and are granted renewal.
| Award Year |
Recipient's Annual Salary |
GO Africa Fellowship Amount |
| 1 |
$70,000 |
$50,000 |
| 2 |
$75,000 |
$40,000 |
| 3 |
$82,000 |
$30,000 |
| 4 |
$88,000 |
$20,000 |
| 5 |
$95,000 |
$10,000 |
|
Total HBS Funds
Received:
|
$150,000 |
Example 2: An MBA alum begins working in Africa two years after graduating from HBS and applies
for a GO: AFRICA Fellowship for the first time in April of the year they start work
in Africa. They receive an award and remain eligible for three additional years. Each
year, they apply for and are granted renewal.
| Award Year |
Recipient's Annual Salary |
GO Africa Fellowship Amount |
| 1 |
$80,000 |
$30,000 |
| 2 |
$90,000 |
$20,000 |
| 3 |
$98,000 |
$10,000 |
|
Total HBS Funds
Received:
|
$60,000 |
The cumulative amount of post-graduation career exploration funds that a HBS graduate
may receive in their lifetime from all HBS and Harvard University sources is capped
at $150,000 USD. Sources include, but are not limited to, the HBS Social Enterprise Loan Repayment Assistance Program, HBS Loan Reduction for Private Sector Employees Program, HBS Rock Center Loan Reduction for Entrepreneurs Program, and the HBS Search Fund Fellowship.
Demand for the program (i.e., the size of the applicant pool and availability of funds)
determines the number of GO Africa Fellowships granted each year as well as the amount
of each fellowship award. While HBS hopes to grant every recipient the maximum award
amount for which they qualify, it may not always be possible.
PRORATED AWARDS BASED ON EMPLOYMENT START DATE: The annual program cycle is July 1 – June 30 and awards will be pro-rated for the
length of eligible employment within the program cycle. For recipients who begin working
after July 1, their award amount will be reduced by 8.3% (or 1/12) for each month
after July in which they do not begin working. The table below outlines how a recipient’s
award is prorated based on their employment start date. In this example, the recipient’s
salary is $85,000 USD and their GO Fellowship award is $35,000 USD (8.3% or 1/12 of
award = $2,916.66 USD).
| Employment Start Date |
Amount Received |
| On or before July 1 |
$35,000.00 |
| August 1 |
$32,083.34 |
| September 1 |
$29,166.68 |
| October 1 |
$26,250.02 |
| November 1 |
$23,333.36 |
| December 1 |
$20,416.70 |
| January 1 |
$17,500.04 |
AWARD PAYMENT: You will receive your GO Fellowship funds in two disbursements, each for half of the
total award amount. The first payment will be sent to you in July after graduation
and once HBS has received verification that you’ve started your job. The second payment
will be sent 6 months later - in January - once HBS has received and reviewed a summary
of your compensation (HBS will request compensation verification such as a paystub
reflecting your first six months of pay, or other similar documentation) and has received
your donor thank-you letter (see FAQs below for more information). HBS expects that
you will stay current on any of your student loan obligations.
Please note that Harvard may not be able or willing to make payments to students from
countries on the United States Treasury Department's Office of Foreign Assets Control
(OFAC) Sanctions; or to individuals identified by name, or related to or connected
with anyone on the Specially Designated Nationals List.
TAX TREATMENT: GO Fellowship awards are reportable to the recipient. Upon receiving an award, recipients
will be required to complete tax documents for submission to HBS. Failure to supply
these forms within 30 days from notification of award will lead to forfeiture of your
GO Fellowship award. We suggest you consult your tax professional for questions about
your tax liability. Neither HBS nor Harvard University may provide tax advice. NOTE:
HBS will not be able to make payments in jurisdictions where such payments may violate
gift ban rules, create a local tax obligation for HBS, create an employment relationship,
create a business presence or similar. This list is not inclusive and each payment
will be analyzed on a case by case basis. The final determination of whether or not
a payment can be made rests solely with HBS.
CHANGES IN EMPLOYMENT: Funding is provided to the recipient for a specific opportunity and may not be transferred
to a new opportunity without review and approval of the Review Committee. You must
inform HBS if, during the time between when you are granted a GO Fellowship award
and your employment start date, you no longer intend to work for the employer (e.g.
you renege your acceptance or the employer rescinds your offer), work in Africa, or
you are a founder and decide to close your venture.
You are required to inform HBS if, within 12 months of your employment start date,
either of the following occur:
- Your total guaranteed annual compensation increases from the amount upon which your
GO Fellowship award was based; and/or
- You have a change in employment status, including reduction to less than full-time,
termination, change in employment location to outside of Africa, or change in employer.
