I'm in a similar situation. I've been accepted to multiple programs, but I'm trying to decide between taking out a huge loan to pay for a great, highly-ranked, but out-of-state program versus staying in-state, living with my parents, going to a lower ranked program, and cutting my loan in half.
The out of state program is a better fit for me, and I can see myself staying in that area for a long time. However, in order to pay back that huge loan, I basically have to place my bets on the IBR or Pay as You Earn repayment plans, which would forgive my loan after 20 years. Monthly payments for these plans are income based, so the only way I know I'll be able to afford them is to assume I'll be receiving a relatively small salary. Let's be honest, LCSWs aren't paid handsomely, but I don't want to have to turn down a future, high paying job offer so that my monthly payments don't skyrocket. Choosing another repayment plan is always an option if this were to happen, but overall it's a tricky situation. I feel like I'm gambling with the next 20 years of my life
There's also the Public Service Loan Forgiveness Program, which forgives outstanding loan balances after 10 years if you work for a 501c3 organization (a registered non profit) and make monthly payments for 10 years. But I also want to get licensed, and many nonprofit organizations aren't clinical based or don't have a clinical component.
I don't really know the answer for you. All I can say is that I'm struggling with this decision too. I've emailed the fafsa.gov provided email address with some questions, but I think they're computer generated answers, so it's not that helpful. I want to contact a loan servicer to go over my options with him/her, but you're not assigned one until your first loan is disbursed.
I'm leaning toward taking out the big loan and going to my favorite program, but I also don't want to regret this decision forever.
All I can say is good luck with your decision-making process!