<p>I think the common recommendation that applicants are probably well-served to include a mix of schools on their audition list that range from “long-shot” to “reasonable-shot,” can be extended to also factor in “potential affordability.” Perhaps a typical MBA matrix would help with one axis comprising “Affordability-Low” and “Affordability-High” and the other axis “Audition-Acceptance-Low” and “Audition-Acceptance-Reasonable.” An applicant might not want to build a list packed with schools in the Quadrant: “Audition-Acceptance-Low” and “Affordability-Low.”</p>
<p>As noted above, the actual “affordability” may vary quite a bit from applicant to applicant, depending on the school and the applicant’s relative qualifications and need.</p>