If you want to live on the East coast Kelley is 100% the better option. A ton of people end up moving to NYC and you will have an easier time getting a job on the East coast (compared to getting an East Coast job after graduating from McCombs) because the alumni base is so strong. Also, they are more familiar with Kelley than McCombs so they understand how great it is and how you must have had an amazing education. Side note- a lot of people end up in Chicago after graduation as well.
I don’t know much about McCombs because I didn’t apply to UT, but Kelley professors are amazing. A ton of them are professionals who already succeeded in life and are teaching for fun which makes them much better professors because they WANT to be here. Kelley has a ton of connections with huge companies (EY, PwC, Deloitte, Macy’s, etc.) that heavily recruit from IU so it is likely that you will end up working for a very prestigious company after graduation. Additionally, Kelley classes do a lot of case competitions with those big companies which gives you real experience and connections with the company (some students are offered internships/jobs just based off of their case competition work). If you do not know what a case competition is, it’s when a company partners with IU students and gives them a real problem they have that they want you to solve. You compete against many teams and go through multiple rounds, so if you end up winning the competition you get money and the company implements your solution. Hard but fun. If they do this at McCombs, I am sure it is not with companies that are heavily East Coast based and probably not with the Big 4 accounting firms.
I strongly suggest that you visit each school. Try to envision yourself not just living there but as a student in Kelley. Life in Kelley is definitely not easy but it is great to work along extremely smart people and to know that you will have an amazing job after graduation. Also, being a Direct Admit is incredible. I did not understand how much of an advantage it was until I saw friends struggling to get into Kelley normally. You are so lucky to be a DA- it will make your life so much easier. Freshman year is full of general education classes like Calculus and Finite (worst math class ever) which are extremely hard for no reason and it is difficult to get good grades in them, so the students trying to get into Kelley struggled because you have to have at least a B in all of your classes. I ended up with a C+ in Calculus and a C in Microeconomics, so being a DA really saved me.
Final thoughts- I did not want to go to IU. I really wanted to go to the University of Southern California and study business there, but I did not get in. I chose IU over my other options because of the status of their business school and I have to say I cannot imagine myself anywhere else but here. Thinking of the time I wanted to go to USC makes me laugh because I love it here so much. Kelley is full of so many bright people and it is such a rewarding feeling to know that you are succeeding along with them.