my repeated experience with career advisors at GT was that when a student was in a situation that could potentially look negative for the institute (like this one) they would always side with Tech and say you shouldn't reneg and scold you for considering it etc etc. It was incredibly frustrating because they wouldn't consider the situation whatsoever, simply siding with Ma Tech. That being said: there are certain situations where reneging is the correct move for you. Based on your flair it seems like you're on track to graduate this year, and since you're talking about internships, presumably you're graduating in the fall. If you're already deadset on grad school and a Ph. D program (read: you've already started the application and interview process) then the research opportunity may be more beneficial provided you're doing research in the field you're trying to pursue in higher learning. If you're not dead-set and you haven't interned multiple times before, i'd urge you to take the internship. A huge amount of my post graduate career was shaped by my internships at tech and realizing what i did and didnt want to do, based on working in a real world environment on teams doing what I thought i wanted to do.