Looking at colonialism is dangerously out of fashion in some fields; I know I'd get looked at weirdly (and looked down upon) for studying it in history in some fields. (Of course, I went to a horribly dysfunctional university for graduate school.) I have no idea what it's like in lit and the like, but you're right that it's overlooked.

Mac and UoA are good about scholarships/TA spots for their students; UT largely goes out of its way not to provide funding for master's level students anymore, though, so you shouldn't expect a dime from them.