COVID Impact on MBA Fall 2020 Applications

Most people I've talked to about MBA applications this fall think that class sizes will be smaller and that fears of longer-term recessions may drive up applications. HBS gave incoming students the option to defer, which I would imagine would further complicate the admissions process. Others I've spoken with think that the fear of virtual classes will scare away many from applying. It seems like the at-home GMAT test is a major hassle since you can't use actual scrap paper for the quant section (there are also no breaks and you can't cancel your scores, which don't even come in for another week or so). I had looked to sign up for the GMAT at a test center the other day and there wasn't anything available until late-July (normal backlog of a few weeks). I would think there's a chance that the Round I deadlines get pushed back but that's not something I would want to bank on.

I've thought that I would go to business school for quite some time now but I'm now a bit more uncertain about my outlook toward going post-COVID as now classes may be virtual for an extended period of time and a good part of the social experience will likely be negatively impacted, at least in the shorter-term.

For people who were thinking about applying this year, have you changed your outlook on MBA applications (e.g., are you now less likely to apply / go, are you thinking of deferring your application by 1-2 years)? And for students currently enrolled in MBA programs or those about to start this fall, have you had any regrets about your decision to go?

For context, I'm at a MM / UMM fund that has a good track record with HBS / GSB (e.g., AEA, Crestview, New Mountain, Golden Gate, Berkshire, THL, MDP, GTCR, etc.). I am not sure if I would get promoted internally at this point although I think I'm in decent standing. I really like my firm and the job overall so I'm wondering if it makes more sense to focus on doing whatever I can to get a return offer. I would mainly be going to business school for the network and to meet all sorts of people from different backgrounds and to have the ability to try something new for at least a summer (e.g., public markets or corporate strategy). If I were to end up staying in PE, I would probably want to stay here unless my S/O and I decide to move to another city. Obviously the decision on whether or not to get an MBA is a personal choice but I'm especially curious to hear how other PE associates in a similar boat are thinking through this situation.

Thanks!