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Join us for a live Ask Me Anything (AMA) session with Juno’s Co-Founder, where we’ll break down everything you need to know about financing your MBA in today’s rapidly changing landscape.
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30 Nov 2015, 08:18
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tl;dr would attending UIS shoot me in the foot as I pursue admission to a ranked MBA program or should I leave a gap in education and accumulate debt to attend a ranked undergrad degree and better my chances?
Currently active duty Air Force enlisted. 3 years served/3 years on contract. Currently have an associate degree from a local community college completed in service, 3.5 GPA.
I am looking at an online undergrad program through University of Illinois Springfield (UIS) for Computer Science. UIS is a public school (not for-profit) and in the same University of Illinois system as University of Illinois at Urbana–Champaign (UIUC) which would provide some name recognition (if that) although it is not ranked.
Would you recommend:
A) Completing UIS and strive to get high GPA. Apply for MBA program at end of enlistment.
Education gap: This would be preferred because I already have an associate and not continuing education would leave a gap of 3 years in education.
Financially: It would also allow me to use Tuition Assistance from the Air Force to finish undergrad (and marginally out-of-pocket) and then use GI bill/Yellow Ribbon benefits to pursue MBA with a huge discount on tuition depending on the school. This would result in an almost cost-free education although I feel it would make my chances of attending a top ranked program difficult.
B) Complete last 3 years of enlistment and then attend ranked school. Apply for MBA program after undergrad.
Education gap: There wouldn't be much for me to do for three years. I could pursue technical certifications or look for leadership opportunities.
Financially: GI bill/Yellow Ribbon benefits only provide 36 months of benefits and 12 months of benefits that are significantly less beneficial (Mont. GI bill). This would leave me on the hook for a huge amount of tuition and other expenses. I would definitely have to start taking out loans.
Currently active duty Air Force enlisted. 3 years served/3 years on contract. Currently have an associate degree from a local community college completed in service, 3.5 GPA.
I am looking at an online undergrad program through University of Illinois Springfield (UIS) for Computer Science. UIS is a public school (not for-profit) and in the same University of Illinois system as University of Illinois at Urbana–Champaign (UIUC) which would provide some name recognition (if that) although it is not ranked.
Would you recommend:
A) Completing UIS and strive to get high GPA. Apply for MBA program at end of enlistment.
Education gap: This would be preferred because I already have an associate and not continuing education would leave a gap of 3 years in education.
Financially: It would also allow me to use Tuition Assistance from the Air Force to finish undergrad (and marginally out-of-pocket) and then use GI bill/Yellow Ribbon benefits to pursue MBA with a huge discount on tuition depending on the school. This would result in an almost cost-free education although I feel it would make my chances of attending a top ranked program difficult.
B) Complete last 3 years of enlistment and then attend ranked school. Apply for MBA program after undergrad.
Education gap: There wouldn't be much for me to do for three years. I could pursue technical certifications or look for leadership opportunities.
Financially: GI bill/Yellow Ribbon benefits only provide 36 months of benefits and 12 months of benefits that are significantly less beneficial (Mont. GI bill). This would leave me on the hook for a huge amount of tuition and other expenses. I would definitely have to start taking out loans.
03 Dec 2015, 07:50
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rickriackamba
Hey there,
Well, as an air force dude, you are likely going to apply with a relatively strong and unique candidacy to begin with. Now that doesn't mean the UG school doesn't matter. It does. And anything you can to improve your profile will help. So when considering your UG degree, as always it's better to go to (or take online courses at) the best school you can get into. Of course when it comes to the question of debt it's a consideration of how much for how much more benefit. And if you can come back at me with concrete alternatives we can consider them together.
My advice is to not think in terms of cost, but in terms of ROI. anyhow you are gonna be in a highly advantageous position thanks to the GI bill, so the question is: how much do you have to invest to get more out of it?
My initial thoughts, are that especially since you have an associate degree (which means you can transfer what two years of credits?) your education won't be that expensive anyhow. So maybe it really is worth it to invest in the best school possible?
Let me know your thoughts,
Jon
03 Dec 2015, 11:03
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Thanks for you input. In short it would only cost me personally about one year worth of tuition and living expenses, not taking into account financial aid, if I take the route X below. If I attend GI Bill rate schools for both undergrad and graduate that would be my only cost. Side note: I was incorrect when I noted that I would have 36 months and then 12 months, only 36 months.
X) pay out of pocket for the first year for undergrad then then use GI Bill on the last year of undergrad and for graduate program. Someone else gave me this idea...reddit I think. So I'm sure you're wondering why but simply it would be cheaper to pay for one year of undergrad tuition before the 36 months begins then to pay tuition for one year graduate program tuition after the 36 months ends. Note: Either way how I spin this, by paying one year of either undergrad or graduate tuition I am still going to be paying a relatively small amount
From a ROI perspective a better undergrad would give me the opportunity for internships and attending said "better" undergrad could be the deciding factor of me geting accepted to grad school. If not the deciding factor, it would make my profile stronger regardless. This one year cost would potentially leave me with more opportunity. Is this flawed logic or am I on the right path?
X) pay out of pocket for the first year for undergrad then then use GI Bill on the last year of undergrad and for graduate program. Someone else gave me this idea...reddit I think. So I'm sure you're wondering why but simply it would be cheaper to pay for one year of undergrad tuition before the 36 months begins then to pay tuition for one year graduate program tuition after the 36 months ends. Note: Either way how I spin this, by paying one year of either undergrad or graduate tuition I am still going to be paying a relatively small amount
JonAdmissionado
From a ROI perspective a better undergrad would give me the opportunity for internships and attending said "better" undergrad could be the deciding factor of me geting accepted to grad school. If not the deciding factor, it would make my profile stronger regardless. This one year cost would potentially leave me with more opportunity. Is this flawed logic or am I on the right path?
