Anybody thought about how to finance b-school?

I'm selling my house to pay for it

I will most likely sell my house as well, unless I get into Haas. With the combo of in-state tuition, savings in travel costs and living expenses, I might be able to keep my house. The question is, will the effort be worth it if the housing market is flat or down over the next two years.

DOWN.

Sell. Sell. Sell.

good question.. in california i doubt the market will drive downwards, but it is very likely to stay flat for the next year or so. Analysts say that 07-08 is the lowest but who knows whats gonna happen.

Yeah, I've given up trying to time the housing market here in CA. About 4 years ago, I had money saved up to buy a house, but the prevailing theory was that after the tech crash there would be a housing bubble in the Bay Area. All the money had dried up, so foreclosures were soon to follow, which would drive prices down, etc. So instead of buying a house, I took my money and started a business.

As it turned out, instead of the top of the market it was actually the bottom of the market. My business was a success, and about a year later, I was in a position to look at houses again. Housing prices were up about 25% from the point when magazines were warning about the housing bubble, so I was pretty sure, again, that this was the top of the market. I bought anyways, because I could write off mortgage and home office expenses and because I wanted a yard so I could adopt some dogs.

Instead of being at the top of the market, the area where I bought turned out to be one of the hottest in the region and prices went up 25-30% each of the next two years. For the last year, prices have been relatively flat.

The prevailing thought right now is if the housing market in this area stays flat or goes down just slightly in the next 6-12 months, it will come back with a vengeance after that. If the housing market dips sharply, it may be several years before it comes back as investors unwind their holdings and flood the market.

Housing is all local - mostly.

Here in I-town, there is strong demand -- tons of people work here but live elsewhere -- they're always looking. Add to that all the grad students, people relocating because this is such a great place, etc etc etc. That's my theory. So far, it's holding steady.

related question:

is all of the tution tax deductable ? or any limit to it ?

There are always student loans of various shapes and sizes available. Just keep in mind that if you have an outstanding lien against your tax record, aka the IRS, (defaulted undergrad loans, FEMA, child support, etc..) then CitiAssist or Stafford Plus won't cough up the difference in tuition/living expenses. I have read about such horror stories.

Check out this for more on education-related tax benefits:

https://www.gmatclub.com/phpbb/viewtopic.php?t=41533

Thought I would throw in on the education financing piece first. Disclaimer: while I am a financial counselor (when it's not tax season) I am more familiar with other personal finance issues than I am with higher ed. But here's what I know.

1. Fill out your FAFSA asap. You need to get that in - even if you don't know which school you're going to go to (or even that will accept you), you can fill it out. In other words, this ain't the year to procrastinate on filing your taxes. Go here for more: https://www.fafsa.ed.gov/.

2. Once you've submitted your FAFSA, you will receive your Student Aid Report (SAR). The SAR outlines basically what you have to contribute. Schools look at this to determine if you qualify for merit-based aid and also to know what kind of assets you have.

3. Using the SAR, the school will put together a tuition statement for you. It will show the cost of tuition, other fees, and a cost-of-living budget. They'll subtract any scholarships, fellowships, or grants (grants being pretty darn unlikely for us!), and also include whatever federal loans you qualify for. Whatever's left is called the EFC, or Expected Family Contribution. Unless your parents are still funding your life, that's your part.