This cogenerative ethnography explored the lived experiences of two graduate students balancing Ph.D. studies and motherhood through McClusky's (1963) Theory of Margin. Specifically, we asked ourselves: What impact does pregnancy have on personal and academic selves and how are multiple roles and responsibilities managed? Through an analysis of dialogues, artifacts, conceptual maps, and narratives, examples of internal and external load revealed the dynamic nature of the female experiences in graduate school. Excerpts from the data showed how roles, relationships, and experiences are characterized and how similar or different those examples were, given individual context. Implications of this research for students, faculty, and higher education policy are explored. (Contains 3 figures and 1 table.)