Part-time vs. Full-time MFA / Private Funding

[amm5453]

Hey all,

I'm writhing in the end throes of application-cycle purgatory over here and was hoping for a little bit of advice.  (Going for an MFA in Creative Writing - Fiction.)

I've been accepted to Northwestern's MFA program so far.  However, it's a part-time program, which means funding is limited or nonexistent.  The part-time thing isn't really a deal-breaker for me; I was planning on working during school anyway, so in that sense it might be a good fit for me.  I am worried, though that I won't get the full MFA experience that I'm looking for.  I'm also not opposed to taking out more loans, but I'd rather avoid those to the extent that it's possible.  I'm considering deferring til next cycle to apply again and hopefully make it into something full-time with more funding.

I guess I'm looking for advice/guidance on full-time vs part-time programs, insights on Northwestern's program in particular, and information about alternative sources of funding (such as private scholarships/grants).

To complicate the situation even more, I'm still waiting for an admission decision from the University of Washington in Seattle.  I'm thinking that the fact that I haven't heard anything this late in the game probably means a rejection, but still...