One question, do you know the top 10 MBA schools and how much it cost to attend these schools.
American dream in the face of credit crunch!
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One question, do you know the top 10 MBA schools and how much it cost to attend these schools.
toluwalase
New Member
between $70K-$90K
That is true. Thus I am guessing that you have a good financials available to you. With a family of 4, for most people that will be a challenge to be able to immigrate and immediately enrolled in the top MBA schools.
It is doable if you have a plan in mind
toluwalase
New Member
have savings of just about $40k!
but hopeful my wife should get a job! with the current credit issues?
what do u think?
but hopeful my wife should get a job! with the current credit issues?
what do u think?
I think you better concentrate of getting a job first. Maybe..just maybe you're lucky enough to get to work in company that will pay for your education.
I highly don't recommend getting any student loans to go to school at this moment. It is the last thing you want to do in this economic crisis.
The other way you can do is try to get Scholarship or/and Financial Aids. Once you're in the U.S. search for scholarships that are available to pay for some or all of your school tuition and expenses. Financial aids from the government is also possible but you need to show that you are qualified for them by showing your income tax. If you don't pay income taxes yet, financial aid might be hard to get.
I highly don't recommend getting any student loans to go to school at this moment. It is the last thing you want to do in this economic crisis.
The other way you can do is try to get Scholarship or/and Financial Aids. Once you're in the U.S. search for scholarships that are available to pay for some or all of your school tuition and expenses. Financial aids from the government is also possible but you need to show that you are qualified for them by showing your income tax. If you don't pay income taxes yet, financial aid might be hard to get.
Yeah, it will be tough to manage a family of 4 and pay ~ $85 K per year for about 2 years. Ideally, you should focus on landing a good job that has benefits such as education reimbursement. If you are able to manage your time, you could slowly achieve your goal through a part MBA program at one of the top MBA schools that you mention. Clearly it will take a tad longer but the financial stress can be easily manageable. Additionally you can take as many courses as you can afford and/or take a break if money and time becomes an issue. Furthermore, working and going to school, it will give you the "American work experience" that will definitely will be an asset at the end of your MBA.
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random1999
Registered Users (C)
Going to school during an economic crisis is actually a good idea, because by the time you are done with school, the economic cycle will likely be in a different stage, so it will be easier to get a job. Even if the economic situation is still not good, at least you will have US education, so you will be more competitive.
Of course, one should try all forms of financial aid first, try to work part-time during school, and borrow as little as possible under student loans. Also, there are government student loan programs that have really low interest rates - it's best to avoid any other types of student loans.
random1999
Registered Users (C)
Definitely I wouldn't borrow $170K for an MBA under any circumstances. Whatever the degree sought, I would try to limit the total student loan upon graduation to an amount that would result in a payment of at most $600/month with a fixed interest rate. This way, even if you don't get a fantastic job, you will still manage.
For a Stafford loan with a fixed interest rate of 6.8% and a 10-year repayment plan, this would mean you would borrow at most about $52K.
For a Stafford loan with a fixed interest rate of 6.8% and a 10-year repayment plan, this would mean you would borrow at most about $52K.
random1999
Registered Users (C)
Also, MBA tuition at top schools is usually less than $50K a year. The rest is living expenses.
random1999
Registered Users (C)
There's no need to say "likely" - you can look up their tuition online. It's around $50K, some go as low as $45K.
slackerdemigod
Registered Users (C)
Challenging but it's good to have a goal. I recommend you also look into the MBA programs at your local state universities. They might not have the name of a top-10 college but can be good enough.
For most states, once you have been resident for a year you will qualify for cheaper state tuition fees. Residency is usually established by maintaining a physical presence in the state including evidence such as state driver's license, car registration, and payment of state income taxes.
During the one year waiting period you could be working, getting your family established, and saving money for your tuition.
Ok where to begin.
In my industry which was specialized - up until July there was easily up to 10 job postings a day in the NYC area in all the feeds that I subscribe to.
I had my interview in March, arrived here on the 2nd of August.
It seems since I first arrived, it has all been downhill from there. At the moment there is maybe 1-2 suitable job postings per day and as is usual, are getting so many applicants it is fruitless.
So much so, I am seriously considering returning home.
All of my dreams and hard work and money - ugh. I don't even want to think about it as I get so sad. I love it here but I am not sure whether to return home and come back next year or just give up on my dream that I have had for so long.
NYC has been hit particularly hard. I thought I would have been working now (and I think if I had arrived in June, this would have happened with ease) and with that, I really don't want to blow my life savings on rent and waiting around for 'the job' if that makes sense.
It is not that I am running out of money or anything - it just seems like a waste to be waiting around here for a job and especially at the moment, there seems like no light at the end of the tunnel.
If anyone has any advice, it would be greatly appreciated.
Yes, I have tried temporary agencies (they seem like nothing more than a scam... they have no jobs either it seems!) and basic admin jobs... even Old Navy! LOL
FYI I am a single girl that has done this on my own - I only have a couple of acquaintances over here - so I have no partner to fall back on or anything! LOL
Oh and also the AU dollar has crashed massively as well which is just making things harder! LOL
I have not be checking in here as much as I would like, I am really sorry to hear that things are not working out for you.
I am not sure what to suggest really. Firstly living in NYC is going to eat your savings, I looked into moving there along with a number of other cities but it was looking like it was going to cost thousands just to get a place there.
Have you moved into an apartment yet?
I’m thinking the other posters may be right, you may need to think about moving to another city. At least then you may not be going through your savings as quick as things will be cheaper. I ended up in Boston, and while its still expensive here rent wise, it’s a good bit less then NYC, and stuff is slightly cheaper here.
I was down in NYC for a few days eating out and drinks were way more expensive. I’d imagine that food shipping and stuff like that are expensive too. If the only job you can get is not one that is going to pay very well then doing that and living in NYC is not going to be much fun. You need to be making plenty of money to get by in NYC.
I agree that things are not great in the USA right now, thankfully I got a transfer from the Dublin Office of my company to the Boston office, other then that I am sure I would be in the same boat as you, no job and savings disappearing my the minute. I believe that things will get better in time, although that does not help you right now.
You just have to keep plugging away at job applications. Don’t give up, if you are happy to take any kind of a job then you are at least being realistic, so I reckon you will get one eventually, it’s a case of being in the right place at the right time. Maybe try and see if there are any Australian expatriate organisation in NYC that may be able to help you, put you in touch with other Australians in the City, there are tones of organisations like that for new Irish immigrants.
Don’t give up though, you will get something soon.
Hey all,
More I read about economy crisis more I afraid of moving to US ...My husband and I are in IT field and I was always positive about finding a good job..but now..I don't know anymore!! Can anyone who is now in US tell me about the situation for IT works? I am planning to move to California..which city I don't know yet but my first destination will be Irvine as my sister lives there.
I was thinking if the situation didn't change much soon we can just delay our moving ( we can always go to US once a year to renew our green card. so...)
what do you think?
More I read about economy crisis more I afraid of moving to US ...My husband and I are in IT field and I was always positive about finding a good job..but now..I don't know anymore!! Can anyone who is now in US tell me about the situation for IT works? I am planning to move to California..which city I don't know yet but my first destination will be Irvine as my sister lives there.
I was thinking if the situation didn't change much soon we can just delay our moving ( we can always go to US once a year to renew our green card. so...)
what do you think?
I think you should give it a try first. Go to the U.S and give it some time to find a job. It might take a while but eventually something will open up. IT industry has a pretty good prospect despite the economic crisis. Just do your research first over the Net before going to the U.S so you know how the job situation looks like.
As far as place to live in California, it will all depends on the job itself. Irvine is a good place to start. You can start searching jobs from there, and when you find one, you can always move to another city in California. Just don't make Irvine as your permanent place to stay until you can secure a job. It definitely be easier when you have a family in the U.S.
Lastly, you can't just come to the U.S once a year to renew Green Card. In order to maintain your Green Card, you have to live in the U.S for at least 6 months in a year. If you don't live in the U.S for at least six months or if you don't maintain some kind of residency in the U.S, the U.S government will revoke your Green Card.
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I agree, thats why I want to buy a house soon while they are cheap!
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I know people who have GC and live and work in Africa. As sdl77 mentioned, these people travel to the US once or twice a year to renew their GC. My understanding was that there is a means for a GC holder to live and work outside the US so long as he/she enters the US once in a while.
But I don't know of details.
Is that to wash the new Bemmer with????
I did not know what you were talking about there, copped it in the end