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My dilemma :(

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My dilemma :(

by ldoolitt » Tue Aug 28, 2007 7:06 am
Hello All,

I don’t post a whole lot on here anymore but I am stuck in a predicament regarding b-school. Some of this info may be a tad personal, but I’ve asked around and I cannot get good advice as I don’t know a whole lot of people in my situation

Heres my dilemma:
I’m 25, with about 3 years experience in my field, virtually a 4 point from Purdue in Electrical Engineering and a mid 700 GMAT.
I want to go to b-school sooner rather than later.
I have a girlfriend who I would like to marry soon.
I want to pursue a (possibly non-lucrative) career in social entrepreneurship. I have no desire to make big money.

She wants me to go full time to a top ranked program and suggests I apply to about a dozen schools around the country.

My opinion is that I should do it part time by moving to Chicago and applying to all the great schools in that area for the evening program, and get it paid for.

I would love to go full time but it seems to me to be impossible to try to:
maintain a relationship which would include getting married WHILE in school full time
maintain my personal health
save money for a house

And I would be in such deep debt by the time I got out it would be tough to recover. Anyone else been in this situation or have any advice? I’m struggling to figure this out.

Thanks in advance

PS: Shes a spender (big spender) not a saver, if that makes any difference.
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by givemeanid » Tue Aug 28, 2007 7:30 am
Shes a spender (big spender) not a saver, if that makes any difference.

Et tu, Brute? Oh brother. What can I tell ya... overwhelming empathy is all I feel.

At the risk of sounding like a broken record, go for what YOU want to do. Talk to her and talk to her twice and then talk to her two more times, to make her understand (and listen to her too). Be open to her ideas and balance it out in your mind what you feel comfortable with. You know what, it doesn't hurt to apply to a bunch of schools if you feel rushed into a decision. This way, you will have more time to make a consensual decision. If you later choose to go her way, you have choice of schools. If you choose to go your way, then you are out a few (hundred) green at the most.

Good luck.
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by beatthegmat » Tue Aug 28, 2007 8:18 pm
This is a really tough situation, but I'd like to reiterate givemeanid's advice. I think you should go with your gut, if you think it's the right move for you with all factors considered...
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by beatthegmat » Tue Aug 28, 2007 8:19 pm
Also--not that it's my business, but it sounds like you should talk with your girlfriend about putting together a savings plan. You don't want to catch a chronic debt problem (b-school or not).
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by ldoolitt » Wed Aug 29, 2007 6:38 am
beatthegmat wrote:Also--not that it's my business, but it sounds like you should talk with your girlfriend about putting together a savings plan. You don't want to catch a chronic debt problem (b-school or not).
I FINALLY (after months of subtle and not so subtle hints) got her to think about formulating a budget. I love her so much but her treatment and understanding of money are just so different from mine.

Ah well. Thanks all for the advice. I think that I'm just going to do what I feel makes sense.
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by beatthegmat » Wed Aug 29, 2007 10:47 am
Check out https://www.iwillteachyoutoberich.com. It's a good personal finance blog with good info about saving, budgeting.

Good luck!
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by Icemastr » Wed Aug 29, 2007 11:55 am
Ultimately you should go with what best fits your career goals. If you want a career that is not high in pay you should do your best to avoid debt from college. A $700+ monthly 15 year student loan payment can be a major burden even if you are making good money post graduation.

From my own experience going to college while working after just getting married is very tough. If I hadn't lived with my wife for three years before starting college while working I don't think things would have worked out either with college, work, or our relationship. Even now that I am about to graduate with my undergraduate degree while having worked full time, she still has trouble understanding my lack of time to spend with her.

From the few words you have said about your relationship it does not sound like you and your partner have much to learn about each other. Combining work and a beginning relationship or school and a beginning relationship are tough alone, combine all three and it will be quite a challenge that you probably are not prepared for unless you both have experienced it before.

With your GPA and GMAT considering you have great other factors there is no point for you to apply to 12 schools. This isn't applying to law school, the applications process is more involved and business school applications at top schools are over $200 each. I recommend picking 3-5 schools that you really want to attend and targeting those schools.
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Re: My dilemma :(

by GorgeWalton » Fri Feb 14, 2020 9:39 pm
A debt collector has the right to recover their money anyhow. Probably they sent you some several notifications within some time interval. This is the actual debt collection process rule so if you don't know regarding this, you must know. If you missed or ignored those notifications then you will some serious and major problems. The collector can bring you the debitor to the court. So contact the creditor and talk with them about your situation.
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Re: My dilemma :(

by GutterGMAT » Sat May 30, 2020 5:21 am
If you are dead set on a entrepreneurship career post-MBA, I wouldn’t force yourself into deep debt with a T15 unless you may be interested in a cash cow for 2-3 years like consulting or IB, and then exiting into entrepreneurship. If you are dead set on entrepreneurship, save money and do PT while your company sponsors you, so you can save money for the other life events.
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