What if applying for part time MBA & no longer employed

[ripped]

I am applying for part time MBA in Fall 2010. What happens if at the time instruction begins one is no longer employed either from getting fired/laid off/or quitting? Can the school take back their offer?

Reason I am asking is even though I more than likely intend to stay employed with my current employer I have a personal business venture that I am considering pursuing. Doing so will require an extensive amount of time and will require me to quit my current job. I don't want to risk my offer of admittance getting pulled if I pursue my personal business and am no longer "employed". Could this be looked upon negatively or come back and haunt me in any way?? Thanks for any input.

[Jessica@VeritasPrep]

I think it is highly unlikely for a business school to rescind an offer of acceptance. And, if I read your post correctly, you could always position this as your choice (you wanted to start an entrepreneurial venture and only had time to go part-time). I can't imagine that an offer would be contingent on you staying employed. I wouldn't worry about this at all.

It is possible that a loan might be contingent on employment (and the means to pay back the loan). If this is a concern, I might talk to the university's financial aid office.