I have been trolling here and in the results section for a number of weeks now, and feel like I could use some of your collective advice. Many of you seem rather knowledgeable, and, to be honest, I would appreciate almost any input at this point in time (even if you're not). Having followed the admissions, and read the latest UMN post here, I am going to guess that I will be rejected from three of the four PhD programs from which I have yet to hear... That being the case, I feel as if I am in a bit of a corner and am really torn.
This round I have been accepted to an MSc program at LSE and to the PhD program at UMass Amherst (I did not post in results). The UMass admit included money, and quite a few emails. However, when I was applying to programs, my favorite undergraduate professor went so far as to discourage me from even considering it. She stated that my resume would land in the trash, without any consideration, because it was from UMass... It has me rather worreid about career prospects (despite speculation elsewhere here about the expansion of the UMass department and the possibility of it rising). That being the case, I am considering taking out substantial loans and going to LSE, with the explicit hope of gaining admission to a better program in the 2013 round of admissions. LSE would also make it possible for me to apply to programs in Germany, e.g., Max Planck in Cologne, and Switzerland, e.g., the ETH Zürich.
I am really confused and torn. Would the *chance* of gaining admission to a better program be worth taking out the $20,000+ in loans? Or should I accept the offer I have and remain debt free?
I am older than most -- in my late 20s -- and do not have much "professional" experience I presume to be applicable to most admissions committees (other than two years in Switzerland and fluent German; I will guess that dropping out of a T20 law school counts against me). My references have insisted that I belong in a top program, but I have personally been skeptical about my odds of gaining admission given where I presently am in life (and rightly so it would seem). Would the MSc from LSE boost my chances the next time around? Would it be worth the money?