Free Lower Ranked Grad School or Going In Debt for Higher Rank

<p>Hello everyone,</p>

<p>I was wondering if I could get your advice on something. I have been accepted to several schools for computer engineering masters program. One is a top 5 school and the other is a top 100 school. Obviously the top 5 is going to be a better opportunity, but here's my hang up: Do I take on a large amount of debt for a highly rated degree or do I get paid to go to school for a non-prestigious degree?
I am not going to be in the city where the top 5 school is, but I am interested in doing their distance learning program. From what I've read, I will get the same exact degree as someone who attends that school. Since living there is not an option this year, I am interested in pursuing that route. My biggest hang up is the amount of debt I will go into if I go to that school. At the end of the day it will cost about $30k for my degree. I know that the opportunities from a degree like this are great. I was just wondering what you all thought about my situation or if you could point me to similar threads that have addressed problems like this.
My biggest concern is getting a job after I graduate. I know people have gotten jobs from the lesser program, but I know there are much more opportunities at the other school.</p>

<p>Thanks,
Seth</p>

<p>Not enough employees with a M.S./M.Eng in Computer Engineering to go around, so going to a Top-100 school for FREE is a better route.</p>

<p>What was your major for your bachelors, and where did you get your bachelors (rank of school of area of major)?</p>

<p>You should look at the career statistics for median or average salary upon graduation for masters students in CE at both schools. How big of a difference is it? If the difference is 10k or greater, I would easily choose the top 5 program - the loans could be paid off in 4 years.</p>

<p>Many reputable schools have distance learning programs now – particularly for engineering. The last time I checked, Purdue, UW Madison, Case Western, USC, and UCLA all offered distance master’s program from their engineering schools. Personally, I have several coworkers who have completed or are in the process of completing their master’s in CS or EE at USC, and based on my conversations with them, the programs seem legit.</p>

<p>That said, these programs are designed with the working professional in mind. Lectures are all recorded so that students can watch them on their own time, assignments are all turned in electronically, and exams can be proctored at the student’s local college. </p>

<p>If you can get into one of these distance programs, why can’t you work at the same time and avoid taking on debt? Again, these programs are designed for the working professional. Why do you have to take out a loan to complete the distance program? Can you find work with your CE degree and complete the MS program while you’re working? Can you find an employer who will reimburse your tuition?</p>

<p>Does your top 5 school offer research assitantship or teaching assistantship?</p>

<p>The top 5 school DID NOT offer a RA/TA spot and that’s what makes it difficult. The issue with working full time is that where I will be living in the first year (this is unavoidable) does not have a lot of tech jobs. I am not above working as a waiter or something along those lines to help pay the bills, but I don’t know how realistic it would be to get an engineering job in this place.
As for where I got my undergrad, it was from a top 100 school(the same one that is offering me a full ride).
Thanks everyone for the advice, I really appreciate it.</p>