I think it's worth noting if you take out the federal PLUS loans, you can pay back based on income, with a max of 10% of your income due per month. Additionally, if you work in non-profit or public sector (hello most schools and hospitals!) for 10 continuous years and pay your bill on time every month, the balance of your loan is forgiven after the 10 years is up. Of course there are a lot of 'ifs' in that, but theoretically the 25k school and the 70k school could cost the same in the end... It's probably not worth banking on, but it is worth considering.