<p>If financial concerns will play a role in your college matriculation decision, then it makes sense to apply/compete for all relevant merit- and need-based scholarships. After all, to make an informed decision, you need to know the final price tag for each college where you hold an acceptance.</p>
<p>A few things to keep in mind:
[ul][<em>]Just because you have won the right to interview for the UCB Regents Scholarship does not necessarily mean that you will get the award.
[</em>]AFAIK, the amount of the UCB Regents Scholarship is variable. If your parents’ earned income is over a certain threshold, then you would qualify for a nominal amount. If you have demonstrated financial need, then the amount of the award may be substantial. (At least this is how the scholarship was administered a few years ago.)
[<em>]If you’re a CA kid, then you should really consider going to MIT. The Boston area is a really neat place to go for college. Different from Berkeley…but, of all the places to attend college in the state of CA, the Bay Area is most like Boston.
[</em>]You will be surrounded by a different kind of person at each campus. MIT has a decidedly international, computer sciencey, tech-focused vibe. Some people might argue that UCB is more “balanced” across the humanities and sciences.
[<em>]As others have mentioned, MIT is a private institution, whereas UCB is a public university. In my experience, the office of career services (office that helps students locate/apply for scholarships/internships/jobs/grad school) at a private entity is much more helpful than its counterpart at a UC. Also, it’s much easier to navigate “administrative processes” at private schools than it is at a large UC school. As a UC student, at times you’ll feel like “just another number.” I’m not kidding about this.
[</em>]The UROP at MIT makes it really easy to secure a fully funded undergraduate research position. AFAIK, UCB does not have a comparable program (although quality research opportunities abound at both institutions).[/ul]</p>
<p>If you haven’t made up your decision yet, then you aren’t “taking up a spot” by going through the interview process for the UCB Regents Scholarship.</p>
<p>Good luck!</p>