Do you think it matters if it is top 50? The near full scholarship is for a top 50. There is a significant, but smaller scholarship for a top 20. He is waiting to hear from a top 5 that would be unlikely to give him any money. Thanks again.

I went to a top 20 B school on a full scholarship and had no problem getting a job when I got out, but I graduated in 2000. It really was nice to graduate with zero debt. I'm not sure I'd pay to go to a top 5 in this economy.

Thanks. That was my fear, that the lower ranked school would simultaneously lead to less debt AND unemployment. It actually is advice I am soliciting for a family member who is hoping he will still have a top tier business school among his choices. His best choice now is a top 20 but not top 5 school. The scholarship offer was from a school in the top 50. Does that make a difference in the same way that top 5 would?

OP -- some folks coming out of tier 2 and below law schools and business schools can't get jobs. If I were you...I would check out the job placement stats very carefully of any school you're applying to. For many, it may not pay off to get the MBA if it is not a top-tier school.

I went to the best one I got into (top 5). It actually didn't cost more in my case because I got more aid than from UVA (which had much lower base tuition). But I would have probably chosen to go there even if I hadn't gotten so much aid. The job placement, starting salaries and reputation made a big difference in the short and long term. So it's important to look at the return on your investment.

Business folks out there--
Would you go to the best b school (graduate) you got into, or a lower ranking one that offered you a 50 percent discount in the form of a grant? Not talking Wharton versus Podunk, more like NYU versus Northeastern. Thanks in advance...