MirAnees:
Congratulations on both acceptances (with scholarship money!)
Rice Jones is perceived as an overall better (higher ranked) school. It's more or less a top 25 whereas Maryland Smith is considered a top 50 program. Rankings at that point don't tend to matter as much, so it really comes down to two considerations:
(1) Where do you want to be geographically post-MBA? If you are targeting the South/Southeast, Rice would be a better pick. If you are considering the Northeast/Mid-Atlantic then Maryland would be a better choice. That's not to say you can't recruit to a location outside of your school's home geography, but it's generally not as a easy.
(2) How important is the gap in scholarship money for you? Do you need the extra $55K? Is that something you can afford if your goals align more closely with Rice Jones? That's a personal call so it's hard for us to say that Maryland is necessarily worth $55K more over the course of your lifetime/career.
Have you visited both programs? Have you talked to students/alumni/professors? "Feel" and "fit" count for a lot too - those are X factors that can have an impact beyond the two obvious considerations we have laid out.
Congrats again and good luck with your decision.
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Admissionado