To defer or not to defer..... that is the question!
The past year has been nothing short of a rollercoaster ride; the year that disrupted our plans and put us in the deep end of the sea! It didn’t spare anyone, not even the applicants who (groveling and struggling) secured admissions to their dream schools! Until recently, in our ‘How to LIFE?’ manual, we were taught that the metamorphosis of aspirants to school students is the happy ending we must all cherish.
Unfortunately, Covid19 went beyond the manual and put us through a multitude of existential crises. One such crisis for the admitted students was admission deferrals!
With uncertainty looming over us from every corner, college freshmen everywhere were riddled with a dilemma:
should one defer or not?
Nobody had an answer to this particular question! Students had to deep dive and understand whether attending school in the COVID year would be worth it!
We acknowledge that a few of you might still be in the same boat. Hence, we took the matter into our hands and spoke to students across different schools to understand what factors and considerations influenced their decisions. Take a look!
Why did the students choose to defer?
As intuitive as this answer may be, we believe that the deciding factor includes:
College experience: Most students pursue an MBA not just for conceptual knowledge but for hands-on case study experiences, networking opportunities, and group learning. With the introduction of online classes, the experience might lose its vibrant competency.
Visa approval: To control the spread of the Covid19 virus, most countries imposed a temporary ban on visa applications, forcing international students to opt for the online semester. For schools that did not provide the option of online classes, deferring by a semester was the only choice.
Building a strong network: Someone wise once rightly said, ‘Networking is a tree that keeps on giving fruits’! One of the major perks of attending an MBA program is the network one can build and the life-long relationships one can foster! Though debatable, few students are of the opinion that it might be tedious to build a strong network via the online route.
Campus experience: All the elite schools are known for their grandeur, mystery, pomp, and legacy! The campuses play a major role in making the MBA experience a magical one! Who wouldn’t want to wander around the majestic halls, get lost in the magnificent libraries, and grab a hot cuppa with friends on a cold morning en route to class!
Internship opportunities: Finding internships is a tad more difficult for international students. Being on campus, attending the networking events, reaching out to alums plays a huge role to secure on-campus and off-campus opportunities.
City life: Most schools are located at or close to the iconic cities of the world! Be it the US, Europe, or Canada, the vibrant city life adds to the social and personal growth of an individual. Though we agree that this is something one can forego, it finds a place on our check-list!
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Deferral was on my mind ever since the COVID happened. I was not ready to compromise my B-school experience as I wasn't looking to learn anything conceptually from my MBA rather looking to build a network and learn from the diverse cohort’s varied perspectives. If Stern hadn’t approved my deferral request, I’d probably apply elsewhere the following year.”, says Jeetendra, an NYU Stern student who deferred his admission to the incoming batch of 2021!
Why did the students choose to NOT defer?
Few of the same factors considered for deferral were considered by the students to not defer the admit too, making it an interesting discussion!
Timing: For most students with typically 5+ years of work experience, the Covid year pushed them to finally pursue the long-awaited MBA. To make the best use of the downtime when job markets took a hit, many students willingly went ahead with the online MBA.
Financial aid: Different colleges handle the aid allocation differently. Some schools hold scholarships for students who defer. However, that is not the case with all schools. The schools may recalculate need-based scholarships annually. Hence, it is crucial to understand whether you have to reapply for aid if you decide to defer your admission!
Building strong connections: Few students believe that the connections built over online classes are stronger since there is a high collaborative spirit. Going through the nuances of the new-age class together, the cohort fosters a strong sense of belonging!
Opportunity cost: The opportunity cost can be minimized given that the economy of the countries is taking a hit and that there are fewer job opportunities out there.
Safety: Safety is a paramount concern for the majority of us. Nobody can predict if the physical classes can ensure a highly safe environment! Additionally, we don’t know if and when we can return to our pre-Covid ‘normal’ lives. Hence, for students who aren’t ready to forgo another year, taking up the online semester from the comfort of their homes doesn’t sound bad at all!
Lack of opportunities: Due to major constraints posed by several countries, students may not be able to make the best use of the “gap year”. Since all major courses/events/experiences have become virtual, pursuing any other route might not prove to be highly equitable.
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As for my experience at Wharton up till now, I consider myself privileged to be a part of this awesome community. I was apprehensive of deferring since I did not wish to lose out on a year in my professional journey. And as for my classes, constant communication from the school and intense collaboration with my peers instill a great sense of comfort and confidence. We as a cohort ensure that we show up for each other, growing closer as a community.” says a Wharton student from the incoming batch of 2020.
Pro tip: While deciding on a deferral, ask yourself the following questions:
1. Does my college provide a deferral option?
2. What are the chances of obtaining approval for my deferral request?
3. What will my scholarship status look like?
4. How will the deferral affect my career goals and timelines?
5. What is my plan for this year if I choose to defer?
To sum it up, the decision to defer or not boils down to one’s expectations from the MBA experience. It majorly depends on where one is in one’s professional life and what trades one is willing to make!