<p>So basically I took my first GMAT and scored a 740.....98th percentile.</p>
<p>BUT, here are my other stats:</p>
<p>Freshman Year (University of Miami): 3.8
Sophomore Year (Cornell University): Failed 3 classes (Because I started my own business and it took up way too much time). Now they are placing me on forced academic leave for a semester. Cornell GPA now around a 1.7.</p>
<p>Now I have to take a semester or two at the local community college before going back to Cornell. Not counting my GPA before I transferred, my cornell GPA is extremely low.</p>
<p>Do I have a chance at any top-tier business schools? Do I have a chance at ANY business school with those stats?</p>
<p>You would need an EXCELLENT work history showing your ambition and potential. After your graduation, take a few business classes PT at night, get A's and try to convince business schools that you've matured and the sophomore grades are just that you've had a bad year. Get A's from now on.</p>
<p>You still have a chance.</p>
<p>I agree with cbreeze. You are probably at least 6 or 7 years from applying to an MBA program. Put yourself back on track, get good work experience, repeat your 740, and your stinking sophomore year isn't going to matter. It will likely be part of a story you will write in an essay about how you overcame a challenge, learned from (bad) experience, and have a clear understanding of where you want to go next.</p>
<p>I know a case that wasn't quite as extreme but that also involved a number of failing grades, incompletes, and so on, which resulted from illnesses and other personal crises, and led to a final GPA of about 3.1 -- and that person is going to an excellent B-school (top 10 in some ratings).</p>