ak99 wrote:
I would think back to why you chose UCLA in the first place. Will Yale set you off that much better? If not, I'd take the 50k. UCLA is a great school.
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As someone on the waitlist for a school as well, I see where you're coming from. I would definitely pursue the waitlist while putting the deposit down. In terms of reapplication that's a huge step that may have its own risks. You'll really have to drill down on the "why" it could be your GMAT or any other aspect and improving that substantially will be important. I was dinged everywhere a year ago (top 9) and even with an improved GMAT this year only made it into a handful of schools. I think there is a lot to learn from that - there are many factors in play. DM we can chat at length!
I should have mentioned above that although I have lived here for a long time (10 years), I am an international student. With that in mind, schools like Columbia and Yale (while carrying a similar US News ranking) carry a lot more brand-value internationally than UCLA. I applied to UCLA primarily because I connected with the student demographic, its down-to-earth approach and its location on the west coast, which would allow me a change from New York. All these things still apply - I guess it comes down to the question of brand value. You only do an MBA once so is it worth trying again?