Full Funding (American) v. No Funding (Georgetown)

[HandsomeNerd]

Georgetown SSP has been my top choice since I decided to apply for grad school. When I visited the area last fall, I sat in on a class at American's equivalent of a security studies program. l was underwhelmed enough that I applied to a different program there instead (comparative regional studies, with a focus on Chinese foreign policy in the Middle East). But, now the application dust has settled, and these are my two best options. I have to admit, I felt quite flattered at the funding offered from American, and the thought of turning down their offer makes me feel guilty and ungrateful. At the same time, I applied aiming for security studies, and at American, that's not really what I'd be doing. With that said, I welcome any insight or advice on my situation. Thanks!

Edited March 17, 2011 by HandsomeNerd

[Gunner24]

Man...at the end of the day it's extremely difficult to justify turning down a funded offer...in these times, especially. If you feel THAT uncomfortable accepting American's offer, you may want to just wait and reapply next year? It's even tougher to justify paying for an un-funded PhD. But you applied for American, so there must've been something you liked, right?

[runonsentence]

My decision would always be to go with the funding. Unless you're going into a field that will make you independently wealthy, it's probably not worth the debt.

Though, this also begs the question, how much debt? Are you looking at PhD or master's programs?

[HandsomeNerd]

master's, so it's only about two years. still have about 9 months of post 9-11 GI Bill left as well.

[Amalia222]

student loan debt is becoming a real crisis for people now. With the job market as it is, a lot of people are losing everything when unable to pay it back (and you can't default on a student loan debt). So I say, you're much safer to take the money.

[chaospaladin]

Always take the funding option.

[polarscribe]

I have a similar dilemma... accepted to several schools, but only funded (so far) at my second or third choice. Though it is a bit tough, there's no way I can justify turning down what is effectively a $36,000 package (value of stipend + tuition waiver + insurance) in order to borrow an equal amount of money to pursue a graduate degree. Just doesn't make financial sense.

Edited March 18, 2011 by polarscribe

[runonsentence]

master's, so it's only about two years. still have about 9 months of post 9-11 GI Bill left as well.

If it was a PhD, I'd tell you no way should you pay for it. An MA...I suppose you can debate it, but really, your life will easier with funding.

Ask yourself this: why is the name brand of Georgetown more important? (I assume it's to help you get into a good PhD.) Are you willing to live with the risk that your gamble doesn't pay off—that you could end up paying for a Georgetown MA and then not get a dream PhD placement later on down the road? This is the question it would come down to for me, if I was trying to make this decision.

[HandsomeNerd]

just heard back from the dream school. 1/2 tuition. unless something insane happens, i'm going.