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Tuesday, May 25, 2004

Bye bye Yale 

In a semi-idle moment, and spurred by what I'm not quite sure, I started looking through the financial aid sections of my target schools' websites. Right from when I started to think seriously about a full time MBA, I've been clear that I need to make sure it's a financially viable route to take. I need to be able to secure the funds to do the course in the first place, and I need to have some wort of 'safety net' so that I can continue to work in the nfp sector without using most of my salary for loan payments.

On re-reading Yale's financial aid information I relaised that I just don't think it's financially possible. I wouldn't be able to get the full costs covered by a loan without a US co-signer (and I wouldn't be able to get one of those either). Although there would be some loan funding available sans co-signer, and I could get an MBA loan in the UK for the remainder, none of that would be elligible for Loan Forgiveness. OK, I might be able to get some scholarship funding, but I'd still be looking at a potentially unsustainable debt at the end of the course. So, unless something changes in the next few months, Yale's off the list.

This means an immediate saving of the $200 application fee and the time needed to put a good application together. If it had been any of the other three schools, I'd have been tempted to apply and then see what miracles I could work if I got a place, but I've been blowing increasingly cold on Yale since I visited. Apart from anything else, a little voice saying "I don't know how I feel about this place, and I'm not sure I'd be able to afford to go anyway" is not condusive to submitting a strong application.

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