Help deciding between two drastically different MS programs?

Graduate School
1

<p>As the title states, I am currently trying to choose between two very different MS programs that I have been admitted to. </p>

<p>Choice one is a MS in applied mathematics at a state school, where I have received enough funding to cover the tuition costs. I would only be looking at taking out loans to cover my rent and living expenses. </p>

<p>My second choice is an MS in operations research (which is what I'm really interested in) at a prestigious private school. This school was a complete reach for me and has been my dream ever since I started researching grad schools. As expected, I would be full pay here and it will cost me upwards near $70k a year in tuition and living expenses. The department of this private school is ranked top 10 and the specific program is top 20. I could complete this program in 1.5 years though to minimize costs.</p>

<p>The state school is unranked and was my safety school, but now that I'm sitting down and looking over my options, it's becoming increasingly hard to wrap my head around the idea of taking out over $100k in loans. My ultimate goal with my master's degree is to find a good paying job and I'm not sure which would serve me better in that case. </p>

<p>Professors and friends that I've talked to have told me that if they were in my situation, they'd go with the prestigious private school.... then again, they aren't the ones that will be stuck with the $100k+ in loans. </p>

<p>Sorry for the long rambling.... Help!? Am I crazy for thinking about turning down this offer and attending the state school?</p>

2

<p>It’s not worth the debt. I doubt the field you intend to enter has an average starting salary of $100,000, and an MS in applied mathematics with the appropriate coursework and experiences can get you the same kinds of jobs as an MS in operations research. Your friends are silly; people will often say that when they are not actually faced with such a decision, because they don’t think clearly about the consequences - they don’t have to, it’s not their problem. Paying that money back will be a struggle, and there’s not exactly public service loan forgivenness for mathematicians/operations researchers at big businesses, which means at least 20 years of repaying it.</p>

<p>You’re not crazy. You can get a good job and live a good life without going to the fancy-pants expensive private school.</p>