Questions about getting a masters
 

I'm just musing a little bit on what would be involved if I should ever choose to go for an MBA. Does anyone have any idea how student funding works if one has a house payment to keep up? I know there are part-time programs, but I have my doubts as to the value of those vs. a full-time program. Then again, who knows, maybe it's better?

Talk to me.

Don't know about funding, but the part time programs, if done through respected universities, are just as valuable as the full time. They just take a little longer to complete. My sister went though UCLA where she took the same curriculum with the same instructors as anyone in the full-time program.

Not sure about funding. Check with your employer for tuition reimbursement, the IRS for lifetime learning credits and the FASFA for student aid. Then check with the school for aid options.

Go to a reputable school though. Don't try and get one through University of Phoenix, or some school where the degree isn't worth the paper it's printed on.

Not sure what the house payment has to do with student funding?

And the diploma doesn't say "half-time student" on it or anything. It's not like they only teach the secret handshake to the full-time students.

I like evening/part-time programs because the demographics tend to skew a little older, and more people are there on a mission, not trying to look cool.

There is always Speedy Life Experience Degrees.

I may have to put this one up there with DHMO.

I think the house payment had to do with funding because she will still need to work (bring in money to make said house payment).

Morri - at least 2 of my co-workers are going for their Masters in part-time programs. One is going to UCI, I forget where the other is going. Since you graduated from USC I'd start there and see what they have to offer.

Well, the "older students" thing does put an interesting spin on the "value" quotient... because networking is pretty vital, after all.

I think if I was going to do it, it'd probably have to be a major name program, like Columbia or something. But who knows.

Most schools will offer some kind of financial assistance - for good and bad. It most likely will be in the form of loans, which sometimes are differed till after you graduate. Seems there are lots of after hour MBA programs as most of the people who go for them are already in the Corporate Workforce - the good ones/prestige names can be quite costly - but hey, it's an investment in your future right?

You can get Stafford loans regardless of income. Well, the income portion determines what portion (if any) is subsidized, but you can borrow up to the full amount - which I think is now 20,500/year.

I know our experience isn't apples to apples with what you would be looking at, but here is our $0.02...

Mr. Swanie got his undergrad at USC and his MBA at UCI. When he decided to get his MBA, he went for the full-time program. When it came down to it, the full-time program ended up being a good $20K less than the Fully-Employed program. The other upside was that he was done in 21 months, and it was able to set him on a huge career change.

UCI was very generous with financial aid and there was never a question as to whether he would have enough to get through the program. Now, we were in a situation where we didn't own a home at the time, and I was able to continue to work and support the family. He supplemented our income with campus work and freelance work at his former employer.

When Mr. Swanie started looking at MBA programs nearly every counselor's first question was "What is your intent?" Across the board, he was told that if he wanted a career "advancement", he should look at the evening/fully employed programs. If he was looking for a career "change" he should consider a full-time program.

Hope this helps,

swanie