13% of $31,000 = Not Enough

I got a call (the machine picked up, not me) from the program I received the packet from a few days ago, with the information that I am being offered a $4,000 per year fellowship. Since the tuition is $31,000 per year, that's really not enough to make it economically sensible to go to their program, given I have other (much cheaper, even with no funding) options, one at a private school and one at a public school. But even that relatively small financial offer is better than their masters students usually get, so I can take it as further evidence that my application was looked upon very favorably.

Update:

1 admission, funding decision pending, $21,000 for two years with no funding (I think)

1 admission, definitely no funding, $32,000 for two years

1 admission, $4,000 fellowship, $54,000 for two years

3 programs: nada as yet