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do you also finance your cost of living?

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do you also finance your cost of living? [#permalink] New post 21 Feb 2009, 17:39
Assuming that you have to take out a loan to attend B-school, does your loan also include your cost of living(i,e rent, food, misc).

I'm looking at some schools, and I"m noticing that the tuition for the evening program in most schools are usually at least 2x more then a regular full time program.

For someone who is not making it rich with their full time job and is looking for a career change, wouldn't it be better to just do full time? You graduate faster, better networking opportunities, get the new job faster, and dont have to focus on other things besides study.

Any one have any opinion or thoughts on this? This is just something I noticed. I haven't done the math for my own situation, but I'm guessing that it might be a better 'deal' for some people.
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Re: do you also finance your cost of living? [#permalink] New post 21 Feb 2009, 23:42
I'm not sure about the cost thing. I just checked Haas' website (as I new they had a part time program), and the costs at Haas are similar for the partime and full time programs...certainly not the 2x difference you were noting. If anything the part time program appears to be more costly...of course, however, you can keep working in the part time program, so the opportunity costs are completely different.

As for your other question, if you're currently not making it rich and you are a career switcher, you should absolutely go to the full time program...if this is your scenario, it would be very hard to consider a PT program, unless you have a family + kids. The part time program is ideal for some one who is already making some serious cash and wants to continue doing what they're more-or-less already doing.
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Re: do you also finance your cost of living? [#permalink] New post 22 Feb 2009, 07:15
For career switchers, FT programs generally are the better option. At some schools, PT students don't have access to the same career services support, on-campus recruiting, etc as the FT students, as well as not having as much time to focus on clubs and other extracurriculars that will help the switch (since PT students also typically have FT jobs).

With regard to financing, the FT student budget - which sets the maximum limit for financial aid including loans - includes an estimate for living expenses including rent, food, medical insurance, spending money, etc. So you could use student loans to pay these expenses.
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Re: do you also finance your cost of living?   [#permalink] 22 Feb 2009, 07:15
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