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Wife and Kid on the way, hard time deciding on a FT program

This topic has 2 expert replies and 0 member replies
asimahm Newbie | Next Rank: 10 Posts Default Avatar
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Wife and Kid on the way, hard time deciding on a FT program

Post Thu Apr 14, 2016 2:01 pm
Hey Everyone,

I am planning on applying to a few Full-time top 10 MBA programs, but am concerned to forgo two years of salaried income, while expecting a child on the way. My Wife, has a business which she manages from the comfort of her laptop but her income alone would be difficult to support us. A Fulltime program makes the most sense for my career aspirations but I would not like to place my family in a difficult situation for a few years.

Curious to hear others thoughts in a similar situation, how were you able to manage with a Wife and child during school, and what were some strategies for financial aid?

Thanks,

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Edison@VeritasPrep MBA Admissions Consultant Default Avatar
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Post Fri Apr 29, 2016 5:27 pm
Thanks for sharing.

You may have considered these options, but just in case, some MBA students would agree to return to their current employer in exchange for financial aid. This would lessen the stress, both in terms of cash flows and job search. It does reduce your flexibility, but provides more stability in the short term.

Selling off personal assets, such as cars or liquidating financial investments could also be some ways to ease the financial flows.

Wish you all the best, and look forward to your updates.

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money9111 Legendary Member
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Post Mon Aug 29, 2016 8:51 pm
Sounds like you need to reach out to people at the schools you're looking to apply too and just speak to them about their experiences. I had a bunch of classmates who had wives/kids up in Ithaca with them (I went to Johnson at Cornell University) and their families were always welcome. My experience would not have been complete if my classmate's lives were not complete. If that makes sense...

needless to say there are "partner" groups/clubs at each school, which you can find listed on each school's websites, and you should definitely reach out to them.

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