i was in a similar position. i live in LA and have been interested in entertainment law from the get go, but was willing to move anywhere in the country, even to a school without a strong entertainment program. i wasnt that whetted to it.
once i recieved my full scholarship offer from Loyola i was still waiting to hear back from usc and hastings. at that time i figured hastings would have to offer me at least half tuition (which they dont even offer, so hastings was out) and usc would have to offer me some sort of cash (which they didnt, of course, as i was waitlisted)
i guess if you dont care about debt go where ever you want, but for me the idea of being a law school graduate and virtually debt free was extremely attractive. going to hastings would have meant adding an extra $60,000 to my $25,000 debt from undergrad and i just didnt see it as a needed extra.
also too, your scholarship probably comes with some sort of title (fritz burns, deans, loyola, etc) this IS an added feather in your cap, and i see this distinction in many lawyers bios "so and so was a Dean's Scholar while attending Loyola Law School" for instance.
Loyolas comparative "lack" of prestige, to me, is negated by being able to add this title to my resume.
as an aside, i wold say both hastings and loyola are commuter schools (minus the half of the 1L class that lives next door) no one lives within walking distance of hastings aside from that group.
ps- if you want more input i would post this in the pre-law boards