Paying for masters

[Moccalatte]

Hi,

I was accepted into a good private school (Johns Hopkins University) for their master's program in Chemical Engineering. It is very expensive. It will cost around 53,000$ for the first year and 13000$ the second year. This is without the cost of living. I currently have 44K in debt from undergrad (BS in Chemical Engineering). Do I go another 66K in debt for a MSE in Chemical Engineering? Johns Hopkins is a great school but it is very expensive. At this point this is my only option for next year.

Please comment!!

[kaufdichglücklich]

Considering the fact that living expenses will bump you up around the neighborhood of $100k I would say it's not worth it. At all. You're definitely better off reapplying and focusing your attention on funded or in-state programs even if they are not as highly ranked. 

[Need Coffee in an IV]

Yeah no, don't do it. Sure its a good school but is it worth having a financial dead-weight attached to you for years? Is the prestige worth it? I don't think so.

[ThousandsHardships]

Most research-based master's programs should have funding opportunities. I would ask Johns Hopkins if there are any funding opportunities available, and if not, reapply next year for funded programs. Don't be afraid to check with prospective programs ahead of time to see what the funding situation is like for their master's students. You can tell them that you had been accepted by Johns Hopkins this year but that the financial burden was too much, and that's why you're checking with them to make sure ahead of time. Alternatively, you can try to apply for external sources of funding. It might be too late at this point, but it might be worth considering if you reapply next year.

[Lalbadshah]

On 25/03/2017 at 11:03 PM, ThousandsHardships said:

Most research-based master's programs should have funding opportunities. I would ask Johns Hopkins if there are any funding opportunities available, and if not, reapply next year for funded programs. Don't be afraid to check with prospective programs ahead of time to see what the funding situation is like for their master's students. You can tell them that you had been accepted by Johns Hopkins this year but that the financial burden was too much, and that's why you're checking with them to make sure ahead of time. Alternatively, you can try to apply for external sources of funding. It might be too late at this point, but it might be worth considering if you reapply next year.

If Chemical Engineering comes under the whiting School then i know for sure that they dont provide funding for ms. @Moccalatte try contacting the labs and attempt to get an RA position it will cut the tuition in half

[rugox]

I think it is rare to ever benefit from attending an unfunded Master's. I would recommend that you get a job and stay involved in a lab for research experience if your goal is to further the education. Also, what are you basing your statement on JHU being a good school for chemical engineering? The name value of the schools matters less at the graduate level and it's more about the research and prestige of the department. I'd do some more research if you haven't.

[Moccalatte]

3 hours ago, rugox said:

I think it is rare to ever benefit from attending an unfunded Master's. I would recommend that you get a job and stay involved in a lab for research experience if your goal is to further the education. Also, what are you basing your statement on JHU being a good school for chemical engineering? The name value of the schools matters less at the graduate level and it's more about the research and prestige of the department. I'd do some more research if you haven't.

I did the research. I looked at both the National Research Council's research ranking and JHU chemical engineering is top 20, also US and news report though I don't really rely on that ranking.