My wife currently works in IT for a international company making about $30k a year. She has a bachelor's in Business, but is looking to go back for an MBA in order to further her career. I am helping her to choose the best option considering our circumstances. I make $55 with my job and have about $26k in student loan debt, so it helps to have both of us working full-time.
Option 1 - University of Delaware, the big name school in the area, which is known for having Joe Biden as its most recognizable alumni. MBA tuition at UD is $825 a credit. But if she leaves her current job, and applies to work as a graduate assistant, her tuition would be reduced up to 50% percent, bringing tuition to about $412 a class. With the assistantship, there is a stipend of $9,000 a year to perform office duties for 10 hours a week, while enrolled full-time. The total program is 44 credits, which would bring the total to $18,128.
Options 2 - Wilmington University, the lesser known college in the area, and may be viewed as less prestigious in some regards. The WilmU tuition is $477 per credit, and they don't offer assistantships. The total program is 36 credits, which would bring the total to $17,172.
So I am wondering if the college choice really matters in the long run as far as being successful in the corporate world. University of Delaware has the perceived name brand value attached to it, but comes with a greater price tag.
Is it logical for someone work as a graduate assistant, if they have entered the career world? Although, Wilmington is a smaller school, my instinct is telling her to stay working full-time, because established work experience can be worth it's weight in gold over a shinier degree. Plus it seems much more practical to continue working full-time while taking classes at WilmU part-time in the evenings and online.
Please share with me your feedback on this matter.
