5% annual is most likely < $1000 per month, so holding out for that and risking your savings seems a little reckless when it is unnecessary. Everyone's risk tolerance is different, so maybe not for your situation. For a guy raising a family that is a high risk, but for a single person with no kids that is different math.
If the difference is in the equity/grants side of the equation (and not the cash side) it could be very different but I'd still say risking an off public market to try and maximize over < 10% seems non-ideal.
Just my 2 cents.