I tried to take a full-length practice exam (2.5 hours+) tonight, but my brain is so fried. Is it possible to feel it physically hurting?
So, for now I will leave 1/2 of Verbal to go… I really need to go to bed. I’ll come back and finish the last bit tomorrow, and though I know that the score won’t be a good indicator because I didn’t take it under exact, timed conditions, and I skipped the essays section for now. At least I’ll have a rough baseline from which to proceed. I don’t need to take the test this early in the process as I don’t plan on applying for several years, but the test is good for 5 years, so… why not get it out of the way?
Quant was fairly very tough, so I’m hoping the baseline won’t be TOO low. My very first diagnostic was a 620, so I’m very anxious to at least better that score.
In an exercise to avoid the GMAT, I’ve begun thinking about more, er, pleasant thoughts – such as… financing my grad school education!
By all accounts, a full 2-year program will cost in the ball park of $120,000+ for tuition, books, and living expenses. As of right now, I can take out $20,500 per year in Federal Stafford Loans. My family has also indicated that they’d be willing to help out (for which I am immensely grateful). The rest will probably be a combination of personal and private loans.
Just looking a little bit ahead, my goal for 2009 would be to contribute $20,000 to retirement ($15,000 401K and $5000 Roth IRA), then save $5,000 to fund my future educational endeavors. I expect a significant portion of my Freedom Fund would go towards application expenses and then later, living expenses. Isn’t it ironic that I am using my Freedom Fund dollars to undertake an endeavor that would require decades of debt servicing (thereby reducing my freedom, at least in the short term)?
Of course, going to grad school has long been a goal of mine, for professional and personal development reasons. I know I can do it. I can get there, all in due time.
But before I have the privilege of applying for admissions, I must take the test.
You May Also Want To Read :
Roth IRA I remembered that I have around $300 stashed in some ING accounts... I've tried the se ...
So close, and not so far away! I am $500 away from maxing out Roth IRA for 2008. At which time, ...
After several months of consistent saving, my little Freedom Fund has finally grown up. Finally ...
{ 12 comments… read them below or add one }
Yay tests! I’m impressed by your constant focus and intimidated by the amount of debt grad school can incur.
TOTALLY POSSIBLE to hurt your brain..
And it’s great you’ve thought through the financing because I sure didn’t when I went to b-school… but I wish I had
My school lets you take classes non-matriculated and then if you have a 3.5 they waive the GMAT on your regular application. Maybe your school has something similar?
It might be worth it to avoid the test since you will be taking the same classes anyway.
(just recently posted about this on my blog )
You are already planning 2009 goals? I’m impressed! I’m also impressed with your dedication to studying.
It is hard to believe that a MBA can be worth 120k, but from what I have heard, it generally is (from the right school). It just seems so…. expensive!
I agree with stacking pennies…120k is insane for a degree!
When I first started my Kaplan prep book, my first test was a 580 and I ended up getting a 700 on the real thing, so the prep definitely helps! Keep up the good work~
Medical school is even crazier, if that’s possible…most private schools are looking at 35k/year, which translated into 200k+ in loans
You can do it, good luck!!
“No nerve endings in the brain” my foot! I’m convinced that I can actually feel my brain falling apart when I’ve pushed it too far.
All the essay topics are available online. The two I had on test day were ones I’d seen before. I recommend you find and download the list of essay Q’s.
I meant to add something else – Harvard and several schools on that level ignore the first 50K in retirement assets, so fully funding your IRA is a great way to save without being penalized on the FAFSA forms for having been a disciplined saver.
Have you considered attending part-time? I graduated from the UCLA Fully-Employed MBA (FEMBA) program. It takes three years, but I have no debt because I was able to work during school.
UCLA and USC’s part-time program’s are both very good and students from all around CA attend. I had classmates from San Diego and San Francisco.
Very nice blog.Keep up with the good work!