I subscribe to Steinbeck's opinion, written in
The Log from the Sea of Cortez, that, "Bad
boats are built, surely, but not many of them."
That said, I think that the
MacGregor 26 (note the correct spelling, since you're in grad school) is one of the worst production
boats ever built in
fiberglass. Not only does the boat sail poorly, but it is dependent upon its
water ballast system to prevent
capsize. This makes it too easy to make a fatal mistake.
I sailed throughout grad
school even though I couldn't afford a boat back then. Take your meager funds, join a yacht club at a student or corinthian rate, and crew for other people through the
racing program. I found that people were eager to add grad students to their crews, especially grad students fit enough to grind a
winch.