Fawk that noise. Scientists are where its at, we are the ones that give Engineers exciting things to do
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OK now that I got that out of the way, you already have a BS and Masters. Would this be a Masters or BS program? I'm assuming that your existing degrees/classes taken can be leveraged to minimize duplicating coursework?
I get your restriction on movement up in the company/changing over to FT management work... is that a problem w/ this particular company, or going to be a common thing? I get the impression you're planning to stay w/ this same company through it and use this as a stepping stone to move, as opposed to looking for a change in careers or employers. If so, that's a pretty big commitment between both you and them - will this in fact be such a long-term relationship?