I got into a MBA program at my alma mater. I was hoping with my grades (3.81 GPA) and my GMAT score (690) that I would get a more substantial scholarship, but I didn't get that much. Now I am in a quandry. I am scared of going signigicantly into debt at my age (I would be 31 when I graduated), and with loans, health care, etc, the total debt load would be well over 45 K and more than likely closer to 50 k. I am just scared of going into that kind of debt...I have read horror stories where things have gone wrong in school, and that 50k debt goes up to over $150,000 with interest and penalties and there is no way to discharge it...not sure what to do! I may apply to another school where I have a better chance at a scholarship, but the school wouldn't be my first choice.

I'll probably have around $100,000 in debts by the time I graduate. I figure it's an investment in my future, though. I would try not to worry about it too much. You still have a good 30-40 years of working life left. The main thing is to make sure you're in the best grad school you can be in, because there is a pretty large difference between pay out of a good school and a great school. With your grades and GMATs I would imagine you could get into some fairly elite schools.

Do you want it? We get one round in this life and there is no point in wishing we would have done something differently... Of course you could think about the basics, such as will you be getting a significant increase in salary with this degree? I will be coming out of school with over $60K in debt, but I'll be making a min. of $50K for the next 30 years. If I didn't invest into school I'd be making $12 an hour working a desk job I have no interest in. Which leads me to hapiness... What path will make you feel content?

Do you want it? We get one round in this life and there is no point in wishing we would have done something differently... Of course you could think about the basics, such as will you be getting a significant increase in salary with this degree? I will be coming out of school with over $60K in debt, but I'll be making a min. of $50K for the next 30 years. If I didn't invest into school I'd be making $12 an hour working a desk job I have no interest in. Which leads me to hapiness... What path will make you feel content?Yeah I think I would have a significant salary increase, but I am worried about failing out, not finding a job etc. I know it's crazy thinking. I was hoping with my grades and my GMAT that I would qualify for a more significant scholarship At least 1/2 to 80% tuition. The school I applied to has an average starting salary of 71 K coming out, but the variance is high. There are some that got 110,000 and some that got $38. I think the fact my current position (a boring desk job) has been a problem for me has gotten my confidence down. I am regretting not applying to a later round in the hopes I could have pushed my GMAT up over 700

What are you studying?

I have heard that Masters programs are a whole different experience... More positive and more focused on what you will "be doing" in your future career. Have you sat in classes or spoke with students who have graduated from the program? It would allow you to get a feel for what's to come.

I have two grad school applications out right now... One is a Masters in Ed. I would enjoy teaching, but it was more that I felt I needed "security" after I invested this much money into school. There is no end to the number of open teaching positions around here. Also, with my daughter and husband in the mix I felt that the security was so important. However, I've recently decided that knowing I'll be content outweighs the security.

So, I've applied to the Masters of Social Work. I'm not 100% certain if I'll be able to find a job right away, what group of people I would be working with, nor am I certain of salary if I go this route. Add to this we would be selling our house and moving to the city... Our fate is in the hands now of the admissions committee and I am hoping I'll get in.

While there are lots of uncertainties, it's something that will be fulfilling for me...

I know just how you feel. However, I have decided to go for it. I will have about 35,000 in debt when I get through my Masters program. I almost decided against it for that reason. However, if I don't do it until I get the money, I will never do it. Who can afford that much for school? It is stressful thinking about it though. I am glad you posted this because it does make me feel better knowing others are doing it too. I already have a full time job that pays decent for this area of the country and could go on doing this and being comfortable the rest of my life. Or I can take the route I have decided God wants me to take, finish my education in a field totally different than what I am doing and pursue my dream. I choose to pursue my dream. When I get old I want to look back and say I did it, I chose to take a chance and to go for my dream. I know I will be sorry if I don't.

1. make sure it is a program/subject you can hyperfocus on. (AKA 'love' the stuff)
2. Grad school is better in some ways b/c you are working in smaller groups or with an advisor. I know that seminar classes (~8-16 students) are bettr for me than larger classes and lectures (~30-400).

I'm a business major. I'm currently looking for internship next summer so I can hopefully go for an MBA at an elite school. Fortunately, I love business. I'm hoping I can get an internship in GE's finance department with the help of my finance professor. That would be great experience.