<p>In my experience, medical school admissions committees try to look at applicants as whole people (I knew a surgeon at Hopkins who was on the admissions committee for many years). Being at one school or another is only one piece of the puzzle. And getting a full scholarship at a school like Baylor is a recognition of how promising and good a student you are. If $250k is not a lot of money for you or your family (and there are people for whom it is small change), then don’t worry about the debt and make your choice accordingly. But if $250k is a lot of money, then go with Baylor. I say this as someone who faced a similar choice for law school. I was choosing between Yale (which offered me a normal financial aid package), and NYU which offered me a free ride for the tuition only. I chose Yale, because when I figured in the living costs in NYC as opposed to New Haven, I realized the difference between the two packages was about $45k over three years, or only about $15k a year – not enough to warrant attending NYU as opposed to Yale. I stand by that choice. But there is a world of difference between graduating from college debt free and graduating with $100k, $200k, or more in debt. Don’t misunderstand me: I loved going to the U of C as an undergraduate. But you will meet amazing people at Baylor and find incredible mentors there too. They are both excellent schools, and you are clearly a superb student if you got into the U of C and got a free ride at Baylor. </p>