I'm a native Texan, and looking at a wonderful offer from SMU (about 75% tuition), which would give me a great chance of staying in Texas. However, my ultimate plans are to work in Austin/San Antonio, so it would require plenty of networking. SMU in Dallas is somewhat of the "safe" choice, offering a surefire way of staying in Texas, but little opportunity to grow or take positions out of state.
On the other hand, I have been accepted at WUSTL (35% tuition) and loved my visit to the school. I feel it's a better academic and social environment, and I'm not overly debt-averse. The clinics are particularly awesome. That being said, I would never want to practice in the midwest outside of Chicago. I would prefer to work in Texas, California, or Virginia, none of which WUSTL has particularly strong ties to. In addition, I feel that WUSTL would be much more academically demanding and would decrease my chance of being in the top 30% or so.
There are plenty of variables, but the heart of the argument is that I love WUSTL but don't want to be caught in the midwest. Is the risk worth it?