My daughter is weighing her options. A masters in mechanical engineering from a top 5 ranked school or a PhD from a much lower ranked school. She originally wanted a PhD but the masters program from the higher ranked school has its allure. She will probably continue to get a PhD if she takes the masters option. IMO if a PhD is what you want why not just get that now regardless of the prestige or rank of the school. Am I wrong? Any thoughts or suggestions would be helpful!