More important: You do not need to go to graduate school in order to read, to write, to debate, to do intellectual work. You do not even need to go to graduate school to learn from brilliant scholars, though that would be a much better reason to go than any cited in this post, which, oddly, never mentions professors, scholars, or learning. If you want to read, write, and debate, you can do all that for free, and while you’re earning a living and putting money away for retirement. Why should you give up years of your time and earning potential to do what you can do right now, on your own? — and that’s in a best-case scenario, in which you’re getting full funding and therefore at least not hemorrhaging money. But what if you’re not getting that funding, and doing graduate study only by incurring crushing debt?