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Urgent : Deferral - Please advice

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Urgent : Deferral - Please advice [#permalink] New post 18 Mar 2008, 02:37
Hello All!!

I have an admit from Queens, Canada. After serious thought, I am planning to take a deferral to the next year.

Reasons for my deferral :
1. I am finding it difficult to arrange for a 24-25 lakh INR loan.
2. Yes, I am really worried about the recession and the job market on 2009. I don't want to compromise on choosing a job in a field which I don't like( Yes, I am interested in management consulting), if the recession happens.
3. I am getting an offer where I can save 19 lakh INR in a year. I can save this money and then go for my MBA. If I go now, I will be much more tensed and may not even go for an Exchange program. But after saving some money, I will be less bothered with 5-6 lakh INR loan and can concentrate on my studies as well as go for an Exchange program.

I request all of you to please please pour your thoughts on my decision and please help me in making this difficult decision.

Also, could you please tell me how well recognized is Queens globally . Does it come in the top-10 non- US b-schools ?

Regards
Kunal
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Re: Urgent : Deferral - Please advice [#permalink] New post 18 Mar 2008, 02:45
Hi Kunal - First and foremost, is the University willing to defer your admission ? Secondly, what is your current age / Work experience situation like ?

I'd say a one year deferral would be a good choice for your situation, provided you don't lose out on your admit. Being in a better financial situation will most certainly help your focus when you attend.
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Re: Urgent : Deferral - Please advice [#permalink] New post 18 Mar 2008, 04:03
Hi buddy

Thanks for your inputs.

Yes, the university is willing to give me a deferral.. What about fears of recession and job crunch ?
My Age ; 25 yrs
Work Ex : functional consultant in ERP consultancy
GMAT : 730
Extra curr: decent
Acads: top 10% in my class.

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Kunal
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Re: Urgent : Deferral - Please advice [#permalink] New post 18 Mar 2008, 04:28
If you want to defer as you feel you might be in a financial better position next year, then a deferral makes sense. But if you are worried about the job market next year, then I would just say that it is impossible to time the "market". What if the recession woes further deteriate?

Again- this is a decision you have to take based on your risk tolerance and financial situation.

Good luck.



kunalsingla wrote:
Hello All!!

I have an admit from Queens, Canada. After serious thought, I am planning to take a deferral to the next year.

Reasons for my deferral :
1. I am finding it difficult to arrange for a 24-25 lakh INR loan.
2. Yes, I am really worried about the recession and the job market on 2009. I don't want to compromise on choosing a job in a field which I don't like( Yes, I am interested in management consulting), if the recession happens.
3. I am getting an offer where I can save 19 lakh INR in a year. I can save this money and then go for my MBA. If I go now, I will be much more tensed and may not even go for an Exchange program. But after saving some money, I will be less bothered with 5-6 lakh INR loan and can concentrate on my studies as well as go for an Exchange program.

I request all of you to please please pour your thoughts on my decision and please help me in making this difficult decision.

Also, could you please tell me how well recognized is Queens globally . Does it come in the top-10 non- US b-schools ?

Regards
Kunal
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Re: Urgent : Deferral - Please advice [#permalink] New post 18 Mar 2008, 08:21
Why is this "urgent"?

I assume that you expect a significant increase in salary post-MBA. Given this, you will likely be able to save more money during a year post-MBA then you will be able to save during a year pre-MBA. Further, you will be moving towards your career goal a year earlier. For these reasons, I am not sure a deferral makes financial sense.

As far as looking to time the recession, this is rarely a good idea.
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Re: Urgent : Deferral - Please advice [#permalink] New post 18 Mar 2008, 09:23
my mom always told me "don't put off something you can get done today for tomorrow"

the later you go for an MBA the less time you have to use your MBA and the more time you spend earning pre-MBA salary instead of post-MBA salary :) and the economy goes up and down all the time who knows what will happen next year, it might be even worse.

Actually I think the worst the economy gets this year the bigger the boom will be in 2 years time (when we graduate) :) So the class of 2010 and 2011 will be the true beneficiaries of the recession now :)

and also, if you don’t take risks, you don’t drink champagne
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GO BLUE !!!

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Re: Urgent : Deferral - Please advice [#permalink] New post 19 Mar 2008, 17:38
kunalsingla wrote:
...a 24-25 lakh INR loan...


Translation, please?

Thanks. L.
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Re: Urgent : Deferral - Please advice [#permalink] New post 19 Mar 2008, 17:45
lol...I sort of expected someone to ask this:)

1 Lakh = 100,000

INR = Indian Rupee

So...it is equivalent to about 2.5million rupees (roughly $65,000 USD)


lepium wrote:
kunalsingla wrote:
...a 24-25 lakh INR loan...


Translation, please?

Thanks. L.
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Re: Urgent : Deferral - Please advice [#permalink] New post 19 Mar 2008, 18:24
Thanks, dosa.
To the OP, does that means that Queens does not offer any financial aid?

L.
Re: Urgent : Deferral - Please advice   [#permalink] 19 Mar 2008, 18:24
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