Hello,
I need some expert advice to make a career decision. I have an admit from Price college of business and also an admit from UIUC, MBA program. I know UIUC is ranked very well but it has offered very little aid. I am probably going to invest about 40K for Price MBA and about 100K for an MBA from UIUC. I was wondering if some one can comment on what choice would be preferred. A high ranked school and a loan of 100K or a low ranked school and a loan of 40K. If possible, can youplease also speculate as to how long it would take to recoup the money invested in each school. Thank you so much.
Regards
Query
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Hi there,
There are definitely a lot of factors to consider when making your final school choice. And financial factors and considerations top the list, understandably. In my view you have to really think through what you believe your future would look like during and after either program. During the program-- consider class size and how that might affect your experience; who your classmates are (class profile) because that affects your learning more than you would imagine; curriculum; geographic and urban/rural/city etc setting. Consider recruitment at either program-- research employment stats and hiring profiles, consider for your personal profile and goals, will one program be more or less likely than the other to open more doors, offer more opportunities, higher salaries, etc. What will your future likely look like after either program.
It is quite common for MBAs to finance their education through low interest rate loans, paid back with post-MBA salaries over 5-15 years or so, so you'll need to calculate how your ROI might look personally (and check out Forbes for ROI rankings and guidance too). Some estimate that you may get a return on investment in 5 years or so. I've seen quicker and slower estimates, and of course it depends SO much on your personal job and salary and exactly how much you invest etc.
Good luck!
There are definitely a lot of factors to consider when making your final school choice. And financial factors and considerations top the list, understandably. In my view you have to really think through what you believe your future would look like during and after either program. During the program-- consider class size and how that might affect your experience; who your classmates are (class profile) because that affects your learning more than you would imagine; curriculum; geographic and urban/rural/city etc setting. Consider recruitment at either program-- research employment stats and hiring profiles, consider for your personal profile and goals, will one program be more or less likely than the other to open more doors, offer more opportunities, higher salaries, etc. What will your future likely look like after either program.
It is quite common for MBAs to finance their education through low interest rate loans, paid back with post-MBA salaries over 5-15 years or so, so you'll need to calculate how your ROI might look personally (and check out Forbes for ROI rankings and guidance too). Some estimate that you may get a return on investment in 5 years or so. I've seen quicker and slower estimates, and of course it depends SO much on your personal job and salary and exactly how much you invest etc.
Good luck!
Jennifer Kedrowski
MBA Admissions Consultant
www.mbamission.com
[email protected]
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MBA Admissions Consultant
www.mbamission.com
[email protected]
Register for a Free Consult from mbaMission: https://www.mbamission.com/consult.php
Visit the mbaMission Blog: www.mbamission.com/blog
Follow mbaMission on Twitter: https://twitter.com/mbaMission
Like mbaMission on Facebook: www.facebook.com/mbaMission
Read the Free mbaMission School-Specific Insider's Guides: www.mbamission.com/guides.php?category=insiders