grad school angst

I have been considering going to grad school. There is even room for me in the program which I'd like to study in starting in the fall of 2007. But here's the thing: I don't know that I want to spend three more years in school (not to mention the money I'll need) on this. I could be continuing on my own work, my music, travel, even living somewhere else. There are so many other possibilities. The angst came last night with a call from my grandfather. He really wants me to get my Master's (or specifically, my MFA) and wants to see a course of study plan, "business plan" for financing the three years, etc. This will all have to wait until the fall, when the professor who will be overseeing my possible degree will be back from Japan. I keep trying to explain that AND that I haven’t made my final decision yet.