For loan vs paying cash... It comes down to what percentage the loan is. For me, if it's less than... 4-5%, I'd do the loan. anything higher than that seems too easy of a "guaranteed" return. If there's an interest free loan while you are in school, but then 7+%, I'd still go that route, but be ready to pay 100% of it off the second interest starts ticking.
$54k is a lot. What are your projections to starting salary & mid career salary? After spending $30k for a masters degree... I kind of regret it. I luckily had work pay for $12k, but if I could go back... I probably wouldn't have done it (masters in finance).