<p>My brother turned down MIT for Caltech. Of course, the fact that Caltech gave him a full merit scholarship + stipend may have had something to do with it. </p>
<p>If you want to talk about business school, I know a guy who turned down Harvard Business School and the Stanford Graduate School of Business for MIT-Sloan. Of course, the fact that he was admitted into the special Sloan LFM program (which is the dual MBA + Master’s of Science in Engineering and also comes with a huge fellowship grant) may have had something to do with it.</p>