Value of a degree from Oxford University

I have been offered a place to study for a master’s at Oxford University. Should I go or should I get on with applying for a training contract?

I could use some advice. I’m graduating this summer with a philosophy degree from Middlesex Uni (hopefully a first but at least a high 2:1). I have been offered a place on a women’s studies master’s degree at Oxford University. Unfortunately my funding application has been turned down. If I want to do this – I’m going to have to get myself into a considerable amount of debt. My question is – what is the value of an Oxford degree for an aspiring lawyer? Do I really need it? Is it worth borrowing the money, or should I just forget it and start applying for training contracts immediately?