I went to grad school for three semesters in a combined masters/PhD program (English lit.). The short and sweet is this: I left the program because I did a simple cost/benefit analysis and found that I wouldn't recoup the expense of finishing the program. I will probably go back and finish eventually, but I will be doing it on my employer's dime. Also, to be totally honest, I didn't enjoy grad school. I felt like I was insulating myself from a real, vital life and focusing on self-indulgent and ultimately meaningless pursuits. I'm still interested in my field of study (medieval lit and mythopoeic literature) but I'm much happier treating it as a fun hobby rather than a serious academic career. Edit: Also also, I wasn't very good at it, so there's that...
Thank you for your response, I appreciate your honesty. I know what you mean about the mastubatory thing except I get that with writing sometimes (creative writing is my passion). I find when I write about my life it starts to feel very mastubatory. Medieval lit also sounds like a pretty hard sell unless you're going into academia :)
Yeah, there's not much call for people who can recite Chaucer in Middle English, but that's okay. I hope I didn't come across as discouraging. I think education is always a valuable pursuit. However, in the current environment, cost really must be taken into consideration. I think the best way to get an MBA is to find an employer who will pay for it while you're working and earning a salary.