oh_la_la

I am a long-time lurker: I am on the academic job market in Art History, having gotten my PhD at a top-ranked pubic R1 (research university). Let me say in no uncertain terms that it would be pure folly for you to pursue an unfunded MA. The most compelling reason for turning down the IFA would be a financial one. It makes no sense for your financial health to go over $70,000 in debt for an MA in art history...at all. Even if you do eventually want to go get a PhD. I know that everybody wants to think that they will have a great job after they complete their studies, but this is just not the case, even for people who wrote great dissertations, won a ton of prestigious fellowships and who have published in peer-reviewed journals. I know that you all probably do not want to hear any of this, but it's worth knowing what awaits you on the other side. I would advise each and every one of you to turn down any offer, whether PhD or MA, that requires you to fund yourself. The ONLY way to do graduate work in the humanities is through fully-funded programs. Hold out until you get the offer you deserve, or re-think your career options if you are unwilling to wait. Good luck.

yes, to echo everyone else, take the funded offer and don't look back. it is insane to take on debt for an advanced degree in the humanities if you do not have to. good luck. and remember, it's the quality of your work that matters above any other criteria in terms of your prospects for employment down the road.