Questrom w/ 100% scholarship vs. take a promotion, reapply in 2 years

Congrats on getting a Full Ride at Questrom.

I assume you want to be an entreprenur, you want to start your own business vs. working for a venture fund or PE.

If believe in yourself as an entrepreneur and committed to it, you would benefit more from not having school debt and not being reminded by your significant other that he/she is paying your school bills. However, starting your own business is tough and statistically many ventures fail and require folks to look for jobs. Questrom would not be as helpful as Sloan or another top 20 school in getting a job or opening some high-paying doors.

If you are not sure 100% about entrepreneurship, and want to have a great name on your resume (not many CEO's have gone to Sloan or gotten an Ivy League MBA, though all BCG consultants did), and if you really like your job or you think you will like it a lot more, then a promotion will be a good opportunity to strengthen your profile. Waiting may be a better plan since many MBA students change their plans in flight or if they get kids (you will have to have a FT Job and your own gig going at the same time). I would chat with your fiance and figure out what plans you have. My wife wanted to have kids before she was 30 - it was much easier than when she was having the second one at 31. Your situation may be different in terms of children (may not be a question at all but it is a big one if you have not addressed it yet). There is never a perfect time to have kids by the way - there is just not.

I would also recommend starting your own venture on a side and putting it in motion while you have a job - that will be a great opportunity to get ahead and also something to show off to the AdCom - to set yourself apart and demonstrate commitment to your goal. (Your Fiance will also appreciate it). However, life can and will work out either way. Sometimes we can't wait 2 years.

Good Luck!