gravity1914
I have been faced with a similar decision and have talked to a lot of people about it. Being Debt Free is nothing to scoff at, but neither is the opportunities afforded by a top tier institute.
Personally, take the advice I was given ... negotiate!!! I visited Duke's diversity weekend and an alum was faced with this same decision. He had the fellowship to UT, but really liked Duke. He told me he contacted the admissions people and expressed to them how much he wanted to go to Fuqua, but the money was a huge issue. They ended up significantly increasing his scholarship and he ended up leaving school debt free and very little out of pocket costs.
In particular, Duke knows they have to battle the consortium for top students. If they know that have to play ball ... I've been told they will. And this came directly from alumns and current students.
Interesting conversation brewing here. I agree with 2012dreams, What2Do15 and bschooler above. Ok, I admit I am biased cuz am headed to Kelley but valid points and a healthy exchange of ideas nonetheless...I can take this everyday
But on a serious note gravity1914, I'd say go with where your heart is at. We all know the value of top tier programs but the fact remains that a huge part of it depends on what YOU want. As many previous posters have noted, especially by 2012dreams, you should go where you "fit" in at. Kelley is BW#15 and Duke is BW#8. But if you think Kelley's your fit, you'd be better if you go there. Many top-15 grads will outdo many top-5 grads and vice versa. A lot of it depends on what you put into it, being honest with yourself and choosing an environment where you'd thrive. To illustrate, I turned down a medical school admit last year in lieu of an MBA and many of my friends thot I was nuts (until I got my Fellowship, may still thot I was out of my mind

). But I knew what I wanted and am going for it. Many consider an M.D as "top tier" than an MBA or a JD but I am going for what I'd be happy doing for the rest of my life. I will be happier as a multinational entrepreneur/global operations strategist than an Interventional Cardiologist.
You are lucky dude or duddete! Good luck deciding...