Need Help!

[PTGlab]

Today I found out via email and then over the phone that I was accepted to the I/O PhD program at Illinois Institute of Technology. I was informed that I should have been notified over a month ago but something happened with my file and the email never go sent (kind of a strange happening, unsure if I completely buy the excuse and wonder if I was initially waitlisted).

Here is the issue. I have accepted admission to the PhD program at Louisiana Tech. I have not signed any documents, so as it stands now it is a verbal commitment. I understand that accepting, then declining an offer is not the most polite strategy, but it is an option.

I love everything about the program at LA Tech, my only concern is the location. Ruston, LA is not even comparable to Chicago. At Louisiana Tech I was offered funding and when all is said and done the program will cost me less than $15,000, whereas at IIT I was not offered funding and the program will cost a minimum of $96,000. On top of the extra debt, the cost of living in Chicago is obviously significantly more than in Ruston.

If I choose to continue on to LA Tech I will not regret it at all. From the second I accepted my admission, I was very happy with my decision to do so. It is a new program that has a numerous great features that are perfect for me (in house consulting firm is a great opportunity) , but the issue of being in a city of 22,000 people (over 11,000 are students) is concerning.

Long story short, is the extra debt worth being in a better city (for my future career endeavors)? Is it even conceivable that I could afford to live in Chicago off of student loans? Any other advice/concerns/info would greatly be appreciated.

Thanks in advance

[NewScientist12]

The answer is of course no. If you go to Chicago you will be neck deep in debt. IIT would have to be superior to LA's program by a longshot for you to be even considering this. You primarily go to graduate school to learn skills that will enable you to become a good psychologist. If you want to live in a city, get a 9-5 job for a few years and reapply.

[stereopticons]

As I was reading this, I kept waiting for you to get to some massive pro for IIT, but it never came. So the answer is no. Sure, it'd be nice to live somewhere cool like Chicago, but that's not what you're going to grad school for and is certainly not worth a difference of $80,000 plus cost of living. You sound happy with the Louisiana program. Stick with that.

[PTGlab]

Thank you two for responding, I appreciate it.

The benefits of IIT in comparison to LA Tech are simply location and a little bit of prestige. LA Tech is a new program, founded in 09' i believe, whereas IIT has been around for much longer.

My concern with the big city isn't necessarily living somewhere cool (I've grown up and lived in smaller cities my whole life, so that is what I am accustomed to), but possibly the advantages of better employment after graduation.

[psychgurl]

I would be constantly thinking about debt burying me alive if I went to IIT. I would do LA Tech. I'm not sure where you're from geographically, but a plus about LA Tech is warm weather, right? I am from Chicago and will be staying here for grad school, but I applied to many programs in temperate locations in order to escape the terrible winter climate here. It turned out that a Chicago program was my best option...I'm still happy that I can be here with friends and family. BUT, weather is huge! Keep that in mind!

Edited April 17, 2012 by psychgurl

[svh]

I think the answer is pretty obvious. Stay out of debt as much as possible.

[PTGlab]

I am from Michigan so I am pretty used to bad winters, so the weather wasn't a major concern. The more I think about this option there is no way a 90k in debt from just schooling alone, not to mention the extra living costs could be worth it.