<prompt> Human: This post is probably an unconventional personal finance question, but I consider it an investment in myself. Ultimately, I would like some input on the value of higher education is it worth the price tag. Plus, I highly respect the opinions of the people of this subreddit.TL;DR: Accepted to graduate school with optional fellowship. Need advice on choosing a one year or two year degree option and either paying for it myself or having everything paid for with the catch of working one or two years one to one match for a medium-paying employer, that isnt my end-goal place to work, in a location Im not exactly fond of.---Ive been recently accepted to one of the graduate schools at Harvard my dream school and have been offered a fellowship by the military. All expenses paid, plus a 30k per year stipend.The program is a one year Master of Science, with the option of staying on for an additional year and obtaining an additional degree Master of Engineering, pure research. I.e. one year for a Master of Science or two years for a Master of Science and a Master of Engineering.The catch is that for every year of school, I have to work as a civilian for an assigned facility in the military suburb Northeast U.S.. I dont mind working for the military, but for my field data science big data analytics I could be making a significant amount more in any location I want. Plus, Im not sure my end goal is to work for the military especially the facility Ive been assigned to, which I know very little about. I would eventually like to go into medical research andor private industry elsewhere in the U.S. Here are my options:1 Do not take the fellowship and go to school for one year Master of Science. Pros: I can immediately attempt to work for any employer. Cons: Im estimating that I will have to take out 70k in loans. Based on some of the nightmare stories Ive seen in this subreddit, Im very nervous in taking this route.2 Take the fellowship, go to school for one year Master of Science, and work for the military for one year. Pros: Education is completely paid for. Im in-and-out in no time flat and only owe one year to the military. I can do whatever I want directly afterwards. Cons: One year goes fast. With such a dense course load, I might not have time to make strong personal connections for the future and enjoy the city Ive been told Boston is a great city. In addition, If I work for the military for only one year and bail I dont think that looks to well for future employment.3 Take the fellowship, go to school for two years Master of Science Master of Engineering, and work for the military for two years. Pros: Education is completely paid for. The second year at school is completely research based, and I get to focus on whatever I want probably medical research at Harvard Med. The course load will be relatively light so I can enjoy myself and potentially work on some startup ideas with other students. In addition, I come out with some published work and another degree. Cons: Since Im not currently interested in going for a PhD, the research may not be as advantageous. In addition, its another year I have to work for the military which I may or may not like. This route takes four years total, while option 2 only takes two.--- What is your advice on taking out large student loans? Ive been scrolling through the subreddit and it seems like the general advice is to avoid large loans, unless youre in the medical field. That 70k could be invested in broad index fund with 8 interest. After 30 years, it could potentially be upwards of 700k.- Are the extra years of education additional year of pure research and military employment worth losing out on industry pay and career advancement tech sector? Two years can go a long way for future advancement and purchasing power.- Are two Masters degrees worth it? Most employers only recognize one. I feel like the additional Master of Engineering is just a resume wow-factor.- Does having published research help obtain more enjoyable higher earning jobs? I assume having published work would be of great benefit if I plan on doing research in industry.- How do you put a value on personal enjoyment. Im sure the extra year at graduate school in Boston would be a blast mentally challenging and socially enjoyable, but is it worth working someplace I may not necessarily enjoy?---Side Note: I have nothing holding me down no debt, no family, no house.As I write this I realize how fortunate I am. Hopefully with your advice, I can become even more fortunate :. Your time is greatly appreciated.  <response>: This is really a dream situation. And while the assigned worklocation after school may not be what you would wish it to be, it is a resume-builder and would it sounds still be near a major city -- enough to allow neworking.My gut tells me that the two years, two Masters, is best, if you can do it. The additional skills networking gained by an additional year is worth taking an extra year at the end. The two years doing work that doesnt excite you will be a grind, but then you will be done. It will not look bad to employers, if you leave more or less right after two years, because you went to HARVARD and also got a presitigious FELLOWSHIP. Seriously, they will understand if you fulfilled your obligation and then got out. Heres the thing -- if you go for the student loans, you may then be stuck working somewhere that is uninspiring and not completely in your desired field, just to pay those loans off. Same situation. It is much better to do this in a structured situation that has a touch of prestige associated with it, than in your self-funded program. 