No easy answer. bigcope's not wrong to say that prestige is important in this economy, but so is keeping your debt down. Michigan is an excellent school, but it won't necessarily guarantee you a well-paying job if you don't do well academically. (Then again, maybe it will--it depends on what the market for legal services looks like in 2012.)
My personal choice in your situation would be Michigan, but that takes into account my personal career goals and aspirations, which are presumably different than yours.