I had to make the same decision many years ago (1989). My parents even tried to bribe me with a car and a nice apartment at Illinois (they would have still come out ahead), but I had my heart set on Michigan. And I loved it! So much so, I took my DS who is a Junior to Ann Arbor last week for a campus visit. That being said, money is an important consideration. Your daughter needs to really think about debt and what it means for her future. If your daughter is considering graduate school, then she should estimate what her total debt load could be. Breaking that number down in terms of monthly debt service payments might be a good reality check. Debt right now is an abstract concept, but it can/will impact her quality of life i.e. how much money will she have left over to spend and save. If she were my child, I would recommend going the debt-free route unless scholarships make it a closer call. Both are great schools. Congratulations to your daughter for getting into both. Good luck making a difficult decision.