If you are a business student, you can use yourself as a good case study. Do the time value of money calculations. Despite differences in reputation, what do the salary curves indicate for the same degree from the different colleges? Will you ever be able to make up the difference? Don’t forget to calculate in the interest on the added debt.
Most likely, you will find that unless the costs are fairly even, the difference cannot be recouped. Unless you care comparing schools with a vast difference…say something like DeVry or Phoenix versus a top tier academic school like Stanford, the differences are often so minor that the income does not differ substantially. It is really more about the higher caliber candidates that attend those tippy top schools. If you are a great student, you will rise to the top of whatever school you attend and your ability will show up in the workplace.