Getting My MBA

…when we first try to pay for school.

I had no idea there were so many companies and groups offering scholarships. Likewise, I had no idea that I would even be eligible for so few of them. I’m white, male, straight, and make a reasonable amount of money at my job. I know, I know, I’m privileged and should not complain in any way shape or form. I hope I’m not complaining, I just don’t know how this all works. And I’m having a little trouble keeping everything straight, thank you very much.

I’m playing naïve and applying for a zillion of’em. You gotta know that this will lead to a zillion squared spam emails, right? What can I do, though? I need cash to pay the education monster and I don’t have any. Any extra anyways.

A lot of them require essays. Yikes. That’s a big wakeup call: you’re back in school, moron. Get used to power plays by those who have the power. Power here being money, as is so often the case. Once classes start, power is the privileged demigod who hands out grades.

Speaking of grades, I just found out that my school can kick you out of grad school if your average drops below B+. Yikes! I hope this is a sign of grade inflation. It would be totally embarassing if my kids ever saw me flunking out of college. My oldest, who is struggling with grades despite being a genius, could use that to justify anything.

Yay me!

It was supposed to take 2-3 weeks to hear back, but they liked me, they really liked me! They got all the paperwork on Tuesday and I heard back today (Thursday).

Okay, next step: show me the money!

Now that I’m getting closer to starting, I’m also getting closer to signing on yet another dotted line to borrow even more money. My credit rating isn’t that great (grrr…incompetent billing departments in doctor’s offices…grrr) and I know I’ll pay through the nose. I make pretty good money now, but every penny is spoken for. I have 2 teenagers and a scattering of younger kids. They eat a lot and grow very quickly. Last week we dropped $1k on food and clothes, just like it was nothing.

So I’ve started looking into other people’s opinions about the value of getting that piece of paper. Not surprisingly, opinions vary. Studies and more rigorous examinations of the question don’t seem to find great value. Anecdotal evidence from people with MBA’s seem to show it’s worth it. Of course, these are the people successful enough to have internet access. They also have time to post, which means they’re rich or unemployed I guess it’s like anything else: you have to apply what you learn.

My main worry is that I’m planning on a good but no-name school. I won’t be going to keggers with the children of the rich and powerful. Will this lack of incriminating evidence keep me out of the big time?

Links

• Leaders? Or Just Pushy People with Pieces of Paper?
  It takes more than a degree (but you knew that, right?)
• An Executive Reflects On the Value of an M.B.A.
  I like this guy:
  

  But I resent these experts, because they also say that having children isn’t a wise financial strategy. Clearly, we have different values.

  and

  Personal traits like charm and experience figure heavily in post-M.B.A. success. If you’re a troll before you get an M.B.A., you won’t be Jack Welch after graduation — you’ll be a troll with an M.B.A

• Discovering the net present value of an MBA
  It’s the schools’ fault that an MBA doesn’t mean as much
• Critique says degree has little impact on income
  From 2002, but interesting.