If you're in the US, and you're not getting a guaranteed fully funded package for a PhD, DO NOT GO. It means your university can't support you and/or doesn't want you enough, and/or that you're not going to a top-tier grad school. These are all dealbreakers.

In an ideal world, grad school prestige wouldn't be a factor, since there are lots of tremendous advisors/programs outside of the top tier. But in today's job market, it's suicide to be competing with the infinity Yale and Berkeley PhDs on the market with anything less than another top degree (AND publications AND you still won't get a job).

Similarly, since jobs don't exist, it is STUPID to pay money for a history PhD. It's a reasonable enough decision to get paid a small-ish amount to do something you enjoy for ~8 years. It's insane to pay for that experience.

Where do you live?

I paid for it by having the government pay for 90% of the cost and it providing a loan for the remaining 10%. That was in the Netherlands (some time ago, things have changed a bit).

Are you just starting undergrad? If so, you can have graduate school in mind for the future but do not commit yourself to it at all. Keep your options open, you might even find a subject or skill area that you enjoy more. What kind of history career are you considering? Phd? Museum? Archives?

As for graduate school itself, I was a teaching assistant which includes a tuition remission and small stipend (US, History program). That carried me through my masters and three years of Phd level. I still have one more TA year available which I may use the year after next; fortunately this year I won a fellowship, permitting me to work full-time on my dissertation. As of now, I will finish in the next two years.

Be aware, graduate school for history PhD is a long-long commitment. It takes on average 10 years to complete (including 4 years undergrad, 2 masters, 4 for phd/writing dissertation). Depending on the university you attend, funding can also be extremely tight. Luckily I attend a university that does fairly well at taking care of its students but I know people who have not been so fortunate. Some programs condense the masters and Phd but most do not, especially if you complete your masters and phd at a different program.

Also, career prospects in the history field are bleak and highly competitive, be it Phd level, museums, or archival work; there are plenty of opportunities outside of the field in which a Phd can help you get a good job but you have to be willing to move outside the field you've dedicated, for better or worse, a decade of your life studying.

Another thing I wish people would have told me: Of course career prospects are bad, they have always been highly competitive for the field itself. But there is a social aspect that takes its toll. As you plow away at your studies for five to six years, all of your friends not in grad school (if you remain close) will score awesome jobs, buy a nice car, home, and start a family. You, however, will not be able to afford those for a long time. That may get to you, it may not, it all depends on the person. It is something to keep in mind however.

I suggest that if you decide to go to grad school for history, only do it if you can secure some type of assistance. Do not take out loans for a history graduate degree because, based on career prospects and salary, you will struggle to pay those loans back.

(Australia)

I'm pursuing a Masters largely thanks to the generosity of my parents, who are footing the majority of the bill. I'm informally loaning, essentially, because even with Australia's generous student-loan system, my parents were both able to and eager to support me - for which I can't be thankful enough.

I was one of those who went to grad school without any assurance of financial assistance from my program. In retrospect I'm surprised this all worked.

I paid for the first semester out of pocket. During the first semester I secured a job as a teaching assistant (in the biology department!) which brought a minimal income as well as tuition reimbursement for the second semester. I then continued to T.A. while I applied for jobs within the university. By the end of the first summer I transitioned from a T.A. to a research scientist. I worked full time for the university, which brought tuition reimbursement, health insurance, and a sufficient income. It also brought tremendous stress, so don't recommend it for everyone.

In Florida once you reach a minimum of three years of experience you are qualified to take a leadership course for free. Once you pass you can then train interns who are looking to graduate with an undergraduate teaching degree. Depending upon the level of intern (junior vs senior) you earn college credit for any graduate program in any Florida public University. I have 12 credits racked up already and have two courses knocked out. The only things I have to pay are the health/administrative/Athletics fees which amount to about $200/class so it really works in my favor. I highly recommend this to anyone in the teaching profession if their state offers such a program. The cost of a masters degree goes from around $20k to around $4k not counting other expenses.

I was lucky--got a GTA (graduate teaching assistant) post. The pay varied between $12,000-$16,000 for two semesters (I taught summers, too), pretty much a pittance. However, the position also a full scholarship for my tuition (approx. $20,000 each year), and I got my MA and PhD in five years.

Before I went to grad school, I worked a waitressing job and got a fair chunk in tips. I was able to use this as a cushion for two years, but then realized that it was neither feasible nor wise to keep going without loans (i.e. car emergencies, health care, and yes, I would like a bottle of wine on Fridays). I took out approximately $4,000 - $8,000 in loans each year for the remaining three years.

All told, it cost me approx. $20,000 to get my MA & PhD. I know not everyone will get a GTA/GRA post. But unless independently wealthy, I think it's extremely unwise to take out the full loan amount each year to live/pay for school, given the unlikelihood of getting a professor job these days...not that it's impossible to get ANY job afterwards (I'm working independently and doing well)...but betting on being employed as a tenure-track professor (in the humanities at least) is playing it fast and loose.