Go to UVA or keep working?

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Bumi
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Re: Go to UVA or keep working?

Postby Bumi » Fri Apr 29, 2011 10:51 am

moose wrote:I've made my decision. Not going to UVA. Instead, I'll work for another year and by then should have enough stashed away to pay for an MBA cold cash. Will study for the gmat, take it hopefully August and hope and pray to God I get accepted at a t10 program. MIT would be my ideal spot. But heck, I would be more than happy to get into a school like Darden. We'll see,...wish me luck. It looks like the law track has come to its final stop for me.

Interesting. Good for you for making a tough decision. Good luck.

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Patriot1208
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Re: Go to UVA or keep working?

Postby Patriot1208 » Fri Apr 29, 2011 10:56 am

moose wrote:I've made my decision. Not going to UVA. Instead, I'll work for another year and by then should have enough stashed away to pay for an MBA cold cash. Will study for the gmat, take it hopefully August and hope and pray to God I get accepted at a t10 program. MIT would be my ideal spot. But heck, I would be more than happy to get into a school like Darden. We'll see,...wish me luck. It looks like the law track has come to its final stop for me.

Sounds like the right decision to me and he one I would make. Good luck man. Just work your ass off to impress your bosses this upcoming year and make sure to get the quant score high for a school like MIT.

moose
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Re: Go to UVA or keep working?

Postby moose » Fri Apr 29, 2011 11:35 am

Yeah, thanks guys. The costs were just too much. Basically I would need to take out about $155k (considering my current savings) in loans,...with interest I would actually be paying roughly $210k over ten years with absolutely no guarantee of a biglaw job. And ultimately, if I'm honest with myself,...I just want to have a good standard of living,..and an MBA I think is a more efficient way to do that. For Darden,...by next year I would only have to take loans for COL,...so about 20-25K. A school like MIT (if i'm blessed enough to get in),...my bro lives in Boston so COL would be nil but tuition more expensive. So I would still be taking out about 25K as well. The biggest risk with the route I'm taking is, obviously, there is no gaurantee that I get accepted to a B-school of an equivalent calibre of UVA Law. But if that happens, I figure I'm still sitting on a pile of cash and can always apply again in the next cycle. If things don't go well for me at UVA Law i would be SCREWED. Especially considering i'm almost 30.

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Stringer Bell
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Re: Go to UVA or keep working?

Postby Stringer Bell » Fri Apr 29, 2011 11:49 am

It sounds like you are probably making the right call, but how would you be able to pay cash for tuition at Darden after one more year of work? Isn't tuition 40k+ a year and you currently have 20k in savings and 20k in loans?

moose
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Re: Go to UVA or keep working?

Postby moose » Fri Apr 29, 2011 11:55 am

Stringer Bell wrote:It sounds like you are probably making the right call, but how would you be able to pay cash for tuition at Darden after one more year of work? Isn't tuition 40k+ a year and you currently have 20k in savings and 20k in loans?


I'm moving in with a relative,...so no rent for the next year and 4 months to help me save. I have about 25k right now. Then they'll also assume the 20k loan,...atleast until I get on my feet. Without interest. Close knit family thankfully. Anyway, i should be able to stash away about 80k,...as I also planned on earning additional income on the side by any means neccessary (excluding your preferred trade up in West Baltimore Stringer Bell :wink: )

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englawyer
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Re: Go to UVA or keep working?

Postby englawyer » Fri Apr 29, 2011 1:22 pm

i dont mean to be a dream shatterer..but you probably don't have a good chance at a t10 MBA if you are almost 30. They are pretty strict about age:

http://www.bschooladmissionsformula.com ... -stanford/

as you can see they want 25/26 year olds with a small number of slightly older people. The slightly older people are usually like startup veterans with PhD or something.

I think your MBA cycle could be riskier than you think. If you are after money and prestige I would say UVA law is a pretty good option. Alternatively just start the Georgetown MBA part time while you have it locked in. Perhaps this is just my risk aversion talking .

bdubs
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Re: Go to UVA or keep working?

Postby bdubs » Fri Apr 29, 2011 1:31 pm

Just realized this thread is 3 pages long.

Good luck with the MBA admissions process

moose
Posts: 100
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Re: Go to UVA or keep working?

Postby moose » Fri Apr 29, 2011 3:28 pm

englawyer wrote:i dont mean to be a dream shatterer..but you probably don't have a good chance at a t10 MBA if you are almost 30. They are pretty strict about age:

http://www.bschooladmissionsformula.com ... -stanford/

as you can see they want 25/26 year olds with a small number of slightly older people. The slightly older people are usually like startup veterans with PhD or something.

I think your MBA cycle could be riskier than you think. If you are after money and prestige I would say UVA law is a pretty good option. Alternatively just start the Georgetown MBA part time while you have it locked in. Perhaps this is just my risk aversion talking .


LMAO,...how you came to the conclusion that MBA's are "strict" about age or that I don't have much of a chance since i'm almost 30, from the link you posted,...is beyond me. All it said is that mba age is trending downwards ,.....at 2 schools.

The median ages for entering student at all the top schools are typically 27-28. That means half the students are older. Hardly a "strict" age cutoff.




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