I respectfully and completely disagree. If given the choice between abandoning my academic plans and taking on debt, I will choose debt. Do I care about funding in the PhD programs I've applied to? Of course I do. But I'll be damned If I'll just quit if all I am able to secure is a program with little or no funding. When one considers the lifetime earning potential of a PhD, even 200K is not unworkable. May I ask how you've arrived at such an opinion? Do you have any student debt? I don't think the integrity and viability of pursuing a career path should be weighed against money; but that is, in the end, my own opinion. First and foremost, my doctorate will be for my own academic enrichment and that of the discipline to which I belong. Money is a distant third.