question about mba programs, cost benefit analysis.

[Semidevil]

so I have decided I want to get an mba. I"m 26 years old, currently making 46k per year. My goal is to obtain an mba, and to pretty much hopefully do a career change, make more money, get promoted,
I'm planning to go to LSU. LSU offers the full time program, and professional part time program.

Here are the different situations:

LSU full time mba
tuition -- around 18k
duration -- 22 months

LSU parttime program
tution -- 36k
duration -- 24 months.

LSU mba programs for out of state. same price x 3.

So here are my scenarios:

-start in the fall of 2009, take out student loans for 22 months, go full time, pay out of state tuition
-start in the fall of 2009, work full time, go to school part time, pay out of state tution
-start in the fall 2010, stay 1 year to get instate tution, take out loans, go fulll time.
-start in the fall 2010, stay 1 year to get instate tution, work full time, go to school part time.

So what do you think the wisest move is going to be?
I can either: take out loans and finish school faster, or continue working, pay twice the amount of tuition? or maybe do all that, but delay graduation by a year to get instate tution.

 

[Brutus04]

go partime...ya know, its the MBAs that got us into this mess.

 

[robphelan]

instate.

unless you're going to ivy league, no one cares where you got your MBA.

 

[ItsPat]

I'd go part time, you will be missing out on about 60k after taxes if you quit work for 2 years and just go to school. I'd say the 60k trumps the 18k. Have you checked with your job to find out if they pay for graduate school?

 

[ItsPat]

Also, on another note -- I'm not sure what profession you are looking into but the market is pretty flooded right now. You might finish the MBA and not be able to find the job/career you want very easily. At least if you keep your job you can be looking/interviewing and not be in a rush.

 

[Hacp]

Go part time. Don't quit your day-job.