Yeah, I think that would be my angle, but there are lots of moving pieces. If you've got the free-o degree option, it's probably not a bad idea to do it. That said, the difference from in and out of state is not minor; 15 years ago it was ~$1300 for in and ~$4500 for out for undergrad. I can only imagine it's gotten worse. Definitely something to consider.
Then again, as @FlyArmy said, will a MS really be worth it for you? I would say to go for the experience (FSU was awesome) and the extra step on the resume, especially if it's nearly paid for, but it might not pay off much if you're planning on rushing units and getting a PD/FD job. The experience will be fun, but the mileage gain may be minimal.
That's good to hear about the solid instructors in Tally. Definitely a better situation than Austin, it seems.
Money is always an issue in life, but there's always a way to make things work. You could easily bartend or wait tables for flying money while you're in school too, if you go the FSU route. I worked waiting tables for most of my college career and it actually added to the fun; you'll work with a lot of fun people, get cheap/free food, and put some money in your pocket.
Personally and obviously super biased, I'd consider FD much harder if you've ever given it a thought. Then again, I'm the kinda guy that has more of an allergy to bullets than to fire, so maybe it's just personal. That said, the QoL for FD is, in most places, higher than for PD. You're working in bigger groups, you're under less stress, and people generally want to see you show up. Put it this way, my firehouse has about 60 guys and I'd say that there are probably 10-15 that were cops and jumped over to FD when they could; same figures at a lot of firehouses. I honestly don't know a soul that left FD to become PD. Not bagging on my brothers in blue and I respect the hell out of them, but it's definitely a tougher job and different mentality, IMHO.
NYC is crazy expensive, but then again the pay is higher. Up here, FD/PD have parity and make (roughly) the same amount, which seems to be similar in a lot of places. That said, that ship MIGHT have passed for FD, unless you took the last test. They only run it every 4 years or so and the age cutoff is 29 (maybe 30 now, I dunno). PD opens hiring much more often and hires way more, so that could be an option.
Keep an eye out on hirings in cities you'd want to live and just take the test. Lots of larger cities cut you off at 36. Which, you've got time, but always worth it to have your hat in the ring. You can always say no if you pick another path, but you can't say yes if you never took the test and opened up the option.
And I'm kicking myself for not applying again years ago when I wouldn't have to worry about an age waiver. Then again, it's pointless to worry about now; you're past that point and it isn't worth dwelling on.
At the end of the day, you've gotta be the one to decide what works best for you. None of us on here will be able to tell ya the right path because we aren't you, don't have your goals, and don't know what you can and can't do. But, for me, I think it's best to have as many options open as possible. If you can run two things at once (applying to AFRC/ANG spots and FSU or PD/FD), you are ahead of the game. The PPL will fit in there somewhere. Just choose what you think will make you the happiest. If you feel like you chose wrong, look back to my paragraph above and just enjoy the journey.
Good luck man! Hit me up if you have any more questions I might be able to help with.