I was finally accepted off the waitlist at a great school yesterday (April 15). It is my only offer this application season after 5 rejections. The school is in a less-than-desirable location (actually my version of hot concrete hell) and has a somewhat discouraging placement record, so I'm wondering if I should turn it down and put all my energy into building a stronger application for next year (when I would try to apply to at least 10-12 schools). Is this incredibly foolish? All I can hear is the old "a bird in the hand" adage, and worry I'm taking an enormous risk by hoping next year will pan out.