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21 Oct 2020, 07:34
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Hi friends,
I have been losing sleep because of a deep issue running in my life. Any help/advice would be extremely helpful to me.
I am a Non-US entrepreneur and I got into a decently good MBA program with 80% scholarship.
My idea was that the MBA would be of immense help to me as a CEO of my company. I would intern with some consulting/ VC firms, gain exposure and would be able to run my company better.
However, COVID changed the dynamics completely.
First surprise:
1. Got to know that I need F1 visa to be in the US for my studies, and in order to hold F1, I should relinquish my office and should be unemployed.
I decided to forego VC funding, give my office to my family members whom I trust and then pursue my MBA while I advise my family in running the business.
COVID hit
2. Because of COVID, international travel is now restricted. The school was offering a deferral, but promised me that there would be no problem taking the program Online from my home country.
I believed them blindly and jumped at the opportunity: My rationale- I thought I could just pull off half a sem and go to US in JAN. I would not have visa restrictions of me being an entrepreneur atleast for one Sem and I would not be wasting a year.
Took the decision of jumping into the program:
Now, the academics run at very odd times, which I am unable to cope up with due to a different time zone.
Most of the international students dropped off from the program. My networking scope is very limited and the experience from the cohort is almost nil.
Employer events happen at like 4 am my time daily, club events are difficult to catch up.
I heard that the employment prospects are at an all-time low.
All of a sudden, my entrepreneurial venture started to take new turns, got very lucrative prospects.
The remote arrangements of the school are not upto the expectations.
Unable to concentrate fully on the case studies, I decided to reach out to the management team for help within 1 week of starting the program.
They said, just hang in there, 1 month passed. Now the issues snowballed. I asked for a deferral.
They now say- since you have pursued 1 sem with us, you have to pay 1 SEM fee. They are not clear about the scholarship that might be lost as well.
Facing severe health issues, unable to excel at MBA, unable to forego my entrepreneurship venture, unable to face the shame of dropping out of a prestigious MBA with such scholarship, I am mentally and physically suffering to the extreme.
Any good advice would be extremely helpful.
I have been losing sleep because of a deep issue running in my life. Any help/advice would be extremely helpful to me.
I am a Non-US entrepreneur and I got into a decently good MBA program with 80% scholarship.
My idea was that the MBA would be of immense help to me as a CEO of my company. I would intern with some consulting/ VC firms, gain exposure and would be able to run my company better.
However, COVID changed the dynamics completely.
First surprise:
1. Got to know that I need F1 visa to be in the US for my studies, and in order to hold F1, I should relinquish my office and should be unemployed.
I decided to forego VC funding, give my office to my family members whom I trust and then pursue my MBA while I advise my family in running the business.
COVID hit
2. Because of COVID, international travel is now restricted. The school was offering a deferral, but promised me that there would be no problem taking the program Online from my home country.
I believed them blindly and jumped at the opportunity: My rationale- I thought I could just pull off half a sem and go to US in JAN. I would not have visa restrictions of me being an entrepreneur atleast for one Sem and I would not be wasting a year.
Took the decision of jumping into the program:
Now, the academics run at very odd times, which I am unable to cope up with due to a different time zone.
Most of the international students dropped off from the program. My networking scope is very limited and the experience from the cohort is almost nil.
Employer events happen at like 4 am my time daily, club events are difficult to catch up.
I heard that the employment prospects are at an all-time low.
All of a sudden, my entrepreneurial venture started to take new turns, got very lucrative prospects.
The remote arrangements of the school are not upto the expectations.
Unable to concentrate fully on the case studies, I decided to reach out to the management team for help within 1 week of starting the program.
They said, just hang in there, 1 month passed. Now the issues snowballed. I asked for a deferral.
They now say- since you have pursued 1 sem with us, you have to pay 1 SEM fee. They are not clear about the scholarship that might be lost as well.
Facing severe health issues, unable to excel at MBA, unable to forego my entrepreneurship venture, unable to face the shame of dropping out of a prestigious MBA with such scholarship, I am mentally and physically suffering to the extreme.
Any good advice would be extremely helpful.
shameekv1989
09 Nov 2020, 09:17
Kudos
Bookmarks
Damn!!! Brother/Sister, I would suggest you to calm down a bit. May be meditate as well. These are rough times but perseverance is what makes you going. Let the decision come from the management on term deferral and scholarship deferral. No point on burdening yourself with these thoughts until that decision comes.
Hang on there. You would do great. If you have been selected at the best of the schools, then you must have something to excel in their course. Trust yourself and everything will be great!!
Hang on there. You would do great. If you have been selected at the best of the schools, then you must have something to excel in their course. Trust yourself and everything will be great!!
09 Nov 2020, 10:15
Kudos
Bookmarks
Sorry, I missed the post since it is in the career forum.... sorry about the experience. It sounds pretty tough with the time difference and managing so many obligations at the same time.
On the other hand, it’s nice that you have so many options at hand. In reality, it is very hard to do anything else during business school except business school things. If you were full-time, and not doing it online, you couldn’t really do much with your venture. It would come at the expense of recruiting and networking.
Unfortunately the way it works, you either defer ahead of time or you go to school. You made the decision to go and that’s a commitment. It’s nice that the school is offering you an option to defer after finishing the first semester. It’s an MBA program and not a drop panel drop out what type of an engagement. You cannot expect to just drop out and come back later. There are options but they’re not immediate. It is nice that the school administration is understanding and willing to provide options.
It seems like your choices are to either drop out of the program, pay for the first semester, finish it, and then take a break or to stick with the program.
I’ll no it may not be very popular approach but why not pay for the first semester, finish it and then take a break and focus on your business and then you can go back next year if you wanted to. As long as you don’t burn the bridge, you should be able to count on the scholarship. I think the fact that you’ve been in touch with the school and communicating with them about these challenges, should make them more aware and prepared for that discussion when it comes. With a significant scholarship, you’ll be paying 10,000 or $15,000 max. In the grand scheme of things and the cost of the NBA, it’s not bad especially since you won’t have to pay it again for another first semester but I would actually clarify that with the school and see how that would work. Would you be able to come back and not have to pay for the first semester or would you still have to pay or how would it work.
I think you need to look thoroughly and identify what’s important to you. Then focus on that.
Posted from my mobile device
On the other hand, it’s nice that you have so many options at hand. In reality, it is very hard to do anything else during business school except business school things. If you were full-time, and not doing it online, you couldn’t really do much with your venture. It would come at the expense of recruiting and networking.
Unfortunately the way it works, you either defer ahead of time or you go to school. You made the decision to go and that’s a commitment. It’s nice that the school is offering you an option to defer after finishing the first semester. It’s an MBA program and not a drop panel drop out what type of an engagement. You cannot expect to just drop out and come back later. There are options but they’re not immediate. It is nice that the school administration is understanding and willing to provide options.
It seems like your choices are to either drop out of the program, pay for the first semester, finish it, and then take a break or to stick with the program.
I’ll no it may not be very popular approach but why not pay for the first semester, finish it and then take a break and focus on your business and then you can go back next year if you wanted to. As long as you don’t burn the bridge, you should be able to count on the scholarship. I think the fact that you’ve been in touch with the school and communicating with them about these challenges, should make them more aware and prepared for that discussion when it comes. With a significant scholarship, you’ll be paying 10,000 or $15,000 max. In the grand scheme of things and the cost of the NBA, it’s not bad especially since you won’t have to pay it again for another first semester but I would actually clarify that with the school and see how that would work. Would you be able to come back and not have to pay for the first semester or would you still have to pay or how would it work.
I think you need to look thoroughly and identify what’s important to you. Then focus on that.
Posted from my mobile device
