Cost of MBA?

Yesterday at a friend's place, we briefly touched on the question of effect of my MBA on family life, which made me think about the cost.
But before I get into it, what I want to clarify that we have thought about this cost part before starting the program and agreed to bear it. I believe ( and more after knowing a bit of economics) that every choice incurs a cost.

What we can control about is the choice/option not the cost. Its like the moment you choose to buy a mobile phone, you automatically ready yourself to pay the price for it. You have no option to change that. One more thing to ponder is in economics, the assumption for people to be and behave rational is a colossal assumption.
But this rationality is not about being logically consistent but behaviorally consistent meaning knowing the preferences and choosing them consistently. however this is not always assured. Example is if you have 1000 in your pocket and you loose it somehow, how would one react is generally different than if one first wins 1000 in a game and them one bets that 1000 for improve one's chance to win 5000 and in the end one looses. In the end you are loosing 1000 but the behavioral reaction is vastly different.

Now let me turn to the cost of MBA. I will mostly talk about the tangible cost and not the opportunity cost just to be more to the point.

1. Two and half years of time span
2. 8.5 lakh rupees of fees money. typically we have to pay 85000 every quarter, so if I take 2.1% interest per quarter ( 8.4% per annum) then the total amount will be little over 950000.
3. 50 thousand rupees of petrol ( assuming 4 litres of petrol per day just to commute IIM, twice a week and for 125 weeks). While so far we are car pooling so effectively 17K each.

4. Time - 1000 hours classrooms ( regular classes + tutes+ exams), 2500 hours of home study ( assuming 2.5 hours study for each class room hour), 500 hours of commute time ( assuming 1 hour in one way trip and 4 hours per weekend) - Total 4000 hours. This 4000 hours is the time I am taking away from my family. If you take a day for 11 hours ( including commute) then this course is roughly 363 days of regular study, a typical one-year MBAs.

5. In terms of effort - roughly around 10000 pages of study (330 pages for a full 3 credit course and for ten quaters).

6. When we wean away these 4000 hours from our family, lots of personal things goes for a toss including social networking, relationships and others.

7. In terms of validation there is fair amount of grind there. Roughly assuming 5 exams per course per quarter (mid terms, end term, quizzes, assignments ) and 1.5 project/quarter. This gives me 165 exams/projects for the course and safely some approximation gives me a count of 150 exams.

8. Accommodating this in the regular schedule, also means that the time spent on your health and fitness is also cut down.

9. When more then 50% population is with experience of 9 years, I can safely assume the the folks are carrying quite a bit of responsibility in office as well. Thus its implicit the there is directly a challenge to keep up with that burden as well which takes an extra toll upon us.

So these come to my mind when I think about the direct costs. Finally not knowing the cost is ignorance, refuting the existence of costs is foolishness and justifying that there should not be costs associated, is insanity.

And after making my choices and having prepared myself for costs, I do hope that I will be honest to put the effort, compete respectfully and accept gracefully the result.