Got admitted, but no funding!

[BilboSwaggins]

So whereas at most schools people are getting a stipend and tuition waiver, I have to take out a gigantic loan and cover the whole thing.

My idea is to:

a. Apply for any scholarships/fellowships/whateverships possible

b. Go for a year, do really well, and then use that to apply to other schools.  To the point that I think I might send out a bunch of emails to econ departments and say hey, if my transcript looks good, will you offer me funding?  It seems like most masters programs would take two years, so this would be less costly in terms of time.

 

Thanks in advance!

[BilboSwaggins]

P.s. apologies to the moderators if this belongs in 'the Bank.'  I just figured since it was somewhat major-specific it might be better to put it here.

[fuzzylogician]

On 6/9/2016 at 4:08 PM, BilboSwaggins said:

P.s. apologies to the moderators if this belongs in 'the Bank.'  I just figured since it was somewhat major-specific it might be better to put it here.

It's fine if the post is here, especially if you are hoping to get field-specific replies more so than ones from other posters. 

As for the content of your original post, I would personally not do this. Or, at least keep in mind that there is a good chance that it will fail and you'll end up paying the full amount out of pocket, or dropping out after one year with nothing to show for it and also with a significant amount of debt. I've never heard of a school promising a student at another institution funding if they get good grades (which is not to say it's impossible and I don't know your field, but I would guess it's not likely to succeed). Is it worth it? You didn't give dollar amounts, but taking out a "gigantic loan" for a MA that doesn't sound like it will lead to a job that pays enough to afford the loan just doesn't sound like a wise investment to me. 

[DGrayson]

I would also strongly suggest that you do not email other schools asking for funding if you switch. It is ok for you to apply to another school after completing your first year, but keep in mind that the real interest those other schools will have is not the grades that you get in your classes, but whether or not you can pass your comps.