Choosing a part-time MBA program - private or state school?

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Hi there,
I have been accepted by a few part-time MBA programs and currently weighing 2 schools, Boston University and UMASS Boston. I have been working in non-profit arts for seven years and plan to continue working while in school. I was accepted by Boston University (BU), which is my top choice because of its concentration in public and non-profit. However, the program is expensive at over $80k compared to UMASS Boston, which is just under $30k. My employer will not cover any of the costs, so I will foot the bill. My post-MBA plan is to pursue a senior management position in operations, most likely in the pubic or non-profit sector. I know that cost should not be the primary factor in the decision and that a business education is an investment, but at this point, I am struggling with the cost of attending BU. My dilemma is whether to attend BU and graduate with a significant amount of debt or attend UMASS Boston and graduate with minimal debt. Although the expectation is that salaries will increase, I am trying to prepare in case that doesn't happen.

I appreciate any advice and thanks for reading.
Last edited by monkma on Thu Apr 28, 2011 6:44 pm, edited 1 time in total.
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by Tani » Thu Apr 28, 2011 3:48 pm
You are asking some tough questions, ones that are made even tougher by your desire to go into a less-well-paid field. You should talk to the admissions department at BU about help they may be able to provide. Look at the average graduating salaries from the two schools and see how they compare. Look at the salaries for your target jobs post-graduation. Guidestar and Charity Navigator are great resources. All their charities are required to post reports that include the salaries of their top executives. That will give you a good picture of your long-term earnings potential.

$50,000 is a big difference, but if you can reasonably anticipate $10,000 more in income from the more prestigious school that will pay out quickly. Think, too, about the quality of the education and the networking potential of each school. A stronger network can mean better, higher-paying jobs initially and in the long-term. You might be able to find out what the average graduate from BU entering the non-profit field is making. That might allay your concerns over the level of debt.

Good luck,

I know that is not a lot of help, but in the end it is a decision only you can make.
Tani Wolff