Funding/finances are a big part of the decision making process. I know that I personally don’t want to go into (more) debt over a PhD program, so when I made my choice, making a budget and finding affordable housing was a big part of that. Now, that’s not to say it’s the ONLY factor, because it certainly shouldn’t be. My best recommendations would be 1) to make a budget and weigh that option against a cheaper and/or possibly better funded location/school, 2) make sure you’re picking the best school for you, and not just considering the name and reputation or the funding. Both reputation and funding are huge parts of the process, but really can’t be the only considerations. Make sure you’re considering what professors you want to work with, who will actually be helpful for you and the work you want to do. Consider if the pedagogical approach of the school aligns with your interests. Which school will ACTUALLY set you up best for success? You probably considered a lot of this as you were applying, but I think that it’s important to return to this, rather than looking just at the funding vs. reputation. Hope this helps! Good luck!