A total of 80 graduate students and post-docs—25 percent of them women—representing 28 nationalities and five continents were selected from more than 500 applicants from educational and research institutions in Canada, Europe, Japan, and the United States to attend the Fifth Annual International Summer School on HPC Challenges in Computational Sciences, held June 1-6, 2014, at The Budapest University of Technology and Economics in Budapest, Hungary In addition to promoting knowledge of high-performance computing and its applications, by bringing together participants and presenters from 19 countries, the workshop also encourages international collaborations and friendships. This was the fifth in an ongoing series of summer schools, this year jointly organized by XSEDE, Compute/Calcul Canada, PRACE, and RIKEN. Planning has begun for the sixth summer school, to be held during the summer of 2015 in North America Additional information about the event is available at: http://summerschool.niif.hu/.