Regardless, you've specified that you want to work in biglaw. The choice is clear. Emory will open many more biglaw doors, and will better serve your lateral goals (to another firm, in-house, or prestigious government post). Plus, in the event you ever leave Atlanta, Emory will travel much better.
Question: Why no UGA? Were it between Emory and UGA...then you might have a decision to make..
I think these are good points. First, are you considering UGA at all? From my observations, they place better with ATL Biglaw than GSU, plus they're a heck of a lot cheaper than Emory.
Don't underestimate the value of coming out of school with as little debt as possible (or maybe I should really say don't underestimate the burden that $100K+ in loans will be financially). An Emory degree will without a doubt open the most doors for you in terms of getting into ATL Biglaw. But you really need to keep in mind a few things while making your decision:
An Emory degree will open lots of doors and will travel well, but you still need to do fairly well in school, which is far from a given. As the previous poster said, you need to accept the possibility that you could go to Emory, incur the debt, and yet not make it into Biglaw, at least right out of school.
Even if you make it into Biglaw, coming out of school with over $100K in debt will take a sizable chunk out of your hefty Biglaw paycheck.
UGA & GSU will lead to much less debt, but will significantly reduce your chances at Biglaw. If you choose GSU, will you be happy working as a lawyer even if you can't get a Biglaw job, at least out of school? The upside of this of course is that you'd be making less money, but you'd have less debt to pay.
I think it's a hard choice to make, so good luck to you.
For what it's worth, I'm a 3L at GSU, and in my experience you really need to be in the top 15% of the class and on Law Review to have a decent shot at ATL Biglaw. It's not impossible to get into Biglaw without these credentials, but it seems to be much more difficult once you drop down farther in the class than that.