How Much to Factor in Funding - Policy/International Affairs

[mrober77]

Seeking advice/thoughts:

 

I am in the process of hearing back from grad schools (in the policy/international affairs realm) and it’s going well. I’ve gotten into several programs that I’m really excited about. The problem is I’m not getting offered a lot of funding. I’m not surprised—I had a pretty unimpressive undergrad GPA and I’ve heard that much of the funding is based on academic merit. I received funding from only one of the schools I applied to (it would come to about $40,000 over the course of the two years—combined fellowship and assistantship) but I’m not sure if it’s my top choice.  On the other hand, I am struggling with the idea of being ~130k in the hole if I choose a program that offers no funding. I want to make a decision based on what program will be most beneficial to my career long-term but the money aspect is making the decision significantly harder (or arguably, significantly easier).

 

Is anyone else in the same position? For those of you going into policy/international affairs, how are you predicting ROI on your degree? How are you deciding where the line is between expensive but worth it and expensive and not worth it?

 

I'd be grateful for any advice/thoughts/experiences others could share!

[Karoku_valentine]

Hello. I think it depends on your abilities and, most importantly, networking. Most programs in International Affairs do not give you very useful skills in the labor market, and not everyone can be a diplomat or work in the government (plus it more profitable to work in the private sector). Therefore, if you want to work in the government, you need to have a very good network of contacts, which you will only get in top schools.

 

Now, if you want to be employed anywhere with a relatively good salary, try to look for jobs with the highest quant component. If a program gives you that, you will probably be more employable. Still, if the program gives you no real skills, then attend the highest ranked program.

[perpetuavix]

Especially for a Masters' program, I would take the funding. A lot of Masters programs are unfunded or underfunded, and $130k is a lot of debt. The general rule that people use around here is don't do into more debt for a program than you would make in your first year of work after the program; that seems somewhat unlikely, even if you went to the best school with the best job placement. Unless the school that's offering you funding has truly terrible job placement or something about it you really cannot live with, I would take the funded offer. 

[mrober77]

Thanks, you guys!

[hikarizx]

I'm in a similar situation. I already have about 30k from undergrad so I don't think I can afford to go without some kind of assistance and only 2 programs out of the ones I applied for have offered any funding so far..

[mrober77]

FYI: This thread on the same topic is also helpful!

[sadao]

When it comes to IR and goals to work in the government, going to a top tier school (preferably in DC) is extremely crucial. I would seriously advise going to a school that will help you on your dream (whatever that is) rather than choosing $ at risk of not achieving what you're doing all of this for anyway. Do not let the idea of funding and debt sidetrack you.