Deciding Between Two Programs - Help! It's all coming down to the money!

[jcassidy81]

Hi All -

I've been accepted to two great MA programs, and am in the process of deciding between them. The financial scenarios have become a bit tricky, and I am hoping you can provide some feedback/thoughts on this current situation.

Background:

I currently have a 9-5 job that could potentially reimburse 50% of my tuition (if I am able to successfully argue why the degree is related to what I do - frankly, it has nothing to do with what I do, but is a means for me to eventually leave me job!).

This job cannot be done part-time or on a free-lance basis.

I am financially independent (paid for my BA on my own via scholarships, etc) and have no backing.

Both schools are the same tuition (roughly 60K total for a 2 year full-time program). School A has yet to send me my financial package (but is OK with waiting for me to accept until I receive this package), and School B is eager for me to make a decision BEFORE I receive any information from them regarding the financials.

School A:

This is great program and I am excited by the prospect of studying there.

It is a LARGE institution and, therefore, there is NO money to be had departmentally. Therefore, I should not expect any financial assistance - they have been honest about this from the beginning (which I appreciate).

They offer an EXTREMELY flexible part-time program that would allow me to keep my current 9-5 job (which, again, could potentially reimburse 50% of my tuition). However, after my first semester/year, if I find keeping my job and doing 6-9 credit hours per semester is too much, I would have to leave my job. That means I cannot depend on the school to provide me with any supplemental monies. I could look for a part-time job if I find the 9-5 is too much, and, would continue to look for funding elsewhere (i.e. scholarships/grants).

School B:

Also, an equally great program and I am excited by the prospect of studying there. It is a smaller program and they have advised that they DO have departmental money allotted for the students in their program.

They also have a part-time program, however, it is not flexible enough to keep my current 9-5 job (I would have to get a part-time job).

This would all be fine, however, I cannot petition to receive any of their departmental money until AFTER I accept their offer and pay the enrollment fee. This, to me, seems out-of-the-ordinary - a bit like being offered a job, but being told I can't find out how much I would make until AFTER I accept.

OVERALL:

I love both programs and could see myself at either. I also am trying to embark on this career change as fiscally responsibly as I can (even if it takes 4 years). I am 30, I have no financial backing, and would rather not put myself into 60K of debt immediately without any income - especially since the kinds of jobs I'll most likely be walking into are in the 40-50K/year range (the MA is in a social science) and MOST IMPORTANTLY because of the state of the current economy/job market.

I would rather NOT make this decision all about money, but, unfortunately it has become the paramount thing in this decision-making process.

Any thoughts on this matter would be greatly appreciated.

Thanks!