I'm being laid-off and thinking i should get an mba...?

[CareGiver_Care]

I'm scheduled to be laid off on the 28th September with and offer to be rehired by a private company. I live in Sunnyvale, CA ~ the heart of Silicon Valley, in the south bay. I am 40, and will be 41 in December of this year. One of the shareholders is taking the company away from the other shareholders. Hence, they care closing down the company, then starting up a new one. There will be no closure of the studio. So here's the situation ~ and no, i don't want to sue or cause issues.

The company I work for has 40 employees and 20 Contractors with an annual revenue of 1.2-1.4M a year. Each person has 20 different pay scales + deductions + commissions + unemployment/garnishments/regular.

Job one ( being laid off from ), I've worked for, for over 3 years. There are have be numerous pay cuts and price increases. Ultimately, the business is being mismanaged by the person taking over the company. This has caused losses, and hence in increase in prices and decrease in pay.

In my time there, and for more than a year, I've put in over 40 hours a week, with typical weeks being 60+ hours across 7 days. Despite more time put into the company, my pay has shrunk from 30k a year to 26k. So I've taken a second job. The other day, at my second job, my body quit on me; this has caused me to think of the future.

I know I do not want to be hired back and be expected to work more than 40 hours a week, and more than 7 days a week. In a typical week, starting on Sunday, I hit 40 hours by Tuesday/Wednesday. However, my bosses have expectations of Wednesday through Saturday. They will not/reiterate many times, no overtime... which makes no sense. If I don't perform, my reviews will be negative.

Pay no attention to the e-mail/user name here - I'm using this one as it's safe. I have a BA in Pure Math, with a minor in Computer Science. At Job 1, I manage staff, payroll, forecasting & statistics, scheduling, and have heavy input into decisions ( more like warnings ~ if we do this, we'll lose income... where is the money coming from? ). Aside from daily managerial duties, I'm also their webmaster, perform their social media upkeep ( 20k+ unique followers ), and I'm their IT/MIS staff. Additional to this, I fill in for all their employees when sick, have daily employee duties, and when things go wrong, I'm the first to be called and the one who deals with, and takes care of issues.

So I'm thinking, I should just be laid off and get my MBA ( They can choose not to fight me on unemployment, but then I will document my claim on the overtime, hours worked, and the state of California will back me ). I should be making at least 50k a year from this one job.

My question and reasoning for posting here is, How do I apply for Government grants and loans? I've never not had a job or source of income; I haven't applied for aide/benefits before. Where are good schools to get an MBA from? Can I go online? Is there/are there tips and advice for this process?

Thank you in advance for any and all tips and advice.

[Judy]

Government grants and loans for school are applied for through FAFSA - see http://www.fafsa.ed.gov/