I went to grad school for three semesters in a combined masters/PhD program (English lit.). The short and sweet is this: I left the program because I did a simple cost/benefit analysis and found that I wouldn't recoup the expense of finishing the program. I will probably go back and finish eventually, but I will be doing it on my employer's dime. Also, to be totally honest, I didn't enjoy grad school. I felt like I was insulating myself from a real, vital life and focusing on self-indulgent and ultimately meaningless pursuits. I'm still interested in my field of study (medieval lit and mythopoeic literature) but I'm much happier treating it as a fun hobby rather than a serious academic career. Edit: Also also, I wasn't very good at it, so there's that...