<p>I just found out I got into my first choice grad school (CMU, which I wasn't sure I'd be able to get into). But since applying, I've been thinking it might be better to wait a year so I can save up some more money before going. I also like where I work and think I can still learn a lot.</p>
<p>If I declined admission, will it hurt my chances if I apply again next year? Especially for a school I don't think was a sure thing getting into in the first place?</p>
<p>Don’t decline, if you got in into your first choice and they don’t let you defer admissions you’d be making a mistake you will regret.</p>
<p>Really? On the accept/decline form it has space to list a reason for declining. Even if I described my reason as needing a better financial footing before paying for grad school and my willingness to re-apply, you still think it would really hurt me?</p>
<p>Call and ask if you can defer for one year. Some programs allow this.</p>
<p>The space to list a reason for declining is more of an informational survey. The program wants to know why it loses students to other institutions.</p>
<p>If you want to go to CMU, there’s no guarantee that you’ll get in again. Either defer your admission (if allowed) or go with loans. </p>
<p>There are some things in life that cost so much that you’ll never feel like you can afford them. You should look into the future instead to determine whether this is a good choice. For instance, if your salary will be much higher with this degree, why not do it now, with that extra year ahead of more money ahead of you?</p>