Juffo-Wup

I'm in a somewhat similar situation. I applied to the PhD program at my first-choice school, they rejected me but offered me admission to the MA program instead, which is unfunded. It would be about 20k to complete the program, which I suppose will mostly come from loans. This is in the humanities, so it's not like it's a professional degree that's going to make me a lot of money in the private sector, but on the other hand, it's in the field I really want to pursue, and I have no debt whatsoever from my undergraduate degree. I'd like to take the MA, and then try to continue to pursue a PhD at the same institution, but I'm not sure if its a financially sound decision. Any advice?