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question concerning deadline

On business week online, we can easily find such kind of information in profiles of business schools as following:

2002/2003 Classes begin: May 29, 2002
Aug. 12, 2002




INVESTMENT AND DEADLINES FOR CLASS OF 2005

............

Application deadline(s)  Nov. 15, 2002
Jan. 15, 2003
Mar. 15, 2003

...........


When I read them, I get confused. So, the information means that now the only chance for us is to apply for mba of class 2006, that is to say to enroll in 2006 fall?

I am wondering whether I am understanding the information right. If any advice, please kindly let me know. Thanks in advance.
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Or maybe the class of 2006 means that you will graduate in year 2006?

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