Should I take the offer or reapply?

[orcinusorca]

Hey everyone! I'm torn between two options and I would really appreciate it if you could help me out:

 

School 1

I got accepted to this school. Funding is meh. It's a state school in the top 50. I'm pretty sure that I will have a good rapport with my advisors and they're big names in my subfield. It was my safety school, not a top choice. 

 

School 2

I'm on the priority waitlist. Funding is way better. It's an Ivy. It's been my dream school ever since I decided to go into academia. I learned that I didn't get in because the committee did not favor my subfield this cycle even though 3 profs advocated for me and were excited about my project. I have a friend who goes to this school and another who's at a one hour distance. I'm an international student and don't know anyone in the US, so having friends nearby is really important for me. 

 

Everyone I spoke to says that I should take the offer of School 1 but I'm seriously considering reapplying if I don't get off the waitlist at School 2. I feel like I will regret it if I go to School 1.

[CheckYesJules]

It's still early. I'd say wait and see if you get off the waitlist before making any decisions. Personally, I'd go with the for sure since who knows what could happen in the next application cycle. On the other hand, if you're doing something in the next couple of months that will help your application, then I guess you can reapply and see what happens.

[dr. t]

See if you can defer from school 1 for a year, and then use the time to reapply to school 2.

[psstein]

I agree with @dr. telkanuru for the most part.

What's the placement record like at school 1 in your subfield? Good, bad, middling?