I am also military, getting out in a year with the intention of using Yellow ribbon for Law/MBA with a similar amount you have saved.
I honestly don't feel like reading through all of Columbia's handbooks, but I may have a "loophole".
Some of the schools I was looking into have a limited Yellow Ribbon (either students, financially, or both) for some programs, but higher amounts for others.
For example, one of my MBA/Law school combos has unlimited for Law school and a finite amount for the MBA. The law school dual degree handbook states law school tuition applies for dual degrees except in semesters where no law classes are taken, then tuition resorts to that particular school/programs tuition. That means if I take a law class every semester, then I can get a full ride for the MBA using the Law School Yellow Ribbon. I see that Columbia has a 10k MBA unlimited yellow ribbon. If you do a dual degree, that is 10k Columbia and 10k yellow ribbon, or 15k a year more tuition assistance to even the playing field.
That, mixed with the MHA and dividend/passive income would mean you could still increase your net worth and cover all expenses. And it may take a year longer, but you would use your full 36 months with no summer programs and get an MBA out of it possibly.
Any thoughts?