I was accepted to three programs and waitlisted at another. Programs A,B, and C are MA programs. Program D is a PhD program.
Program A was unable to provide any funding, so I turned down their offer. Of the two remaining programs, Program B guarantees funding, but it's relatively little. Program C has offered me a fairly generous research assistantship for the first quarter. Program C will not be able to offer me an assistantship for the Winter or Spring terms; however, I have submitted applications for teaching assistantships for the Winter and Spring terms in an affiliated department. Program D, my top choice, is a PhD program offering five years of very generous funding (Just to be clear with my preferences: D>C>.
This first part of my dilemma emerged when I was told that I was waitlisted for Program D and that those who were offered admission had until May 1st to respond. Programs B & C asked for a decision by April 15th. I contacted the graduate coordinator of Programs B & C asking for extensions. Program B was unable to give me an extension to my decision deadline, but Program C was. With Program C, I have until late May to give my decision now.
I contacted graduate coordinator of Program D and asked a few questions about my prospects of moving from the waitlist. He indicated that my prospects of being admitted from the waitlist are very good. Roughly ten applicants were selected for either admission or waitlist. The program admits as many as they can afford to fully fund for all five years. The remainder (usually 2-3) are waitlisted. The graduate coordinator explained that the waitlist has been fully exhausted almost every year.
I'm left deciding whether or not I should accept Program B by Sunday, or risking the expense of two quarters at Program C if both ofthe following happen: a) I am not admitted to Program D off of the waitlist and my applications for teaching assistantships during the Winter and Spring terms are rejected.
Any advice?