I am choosing between attending a T5 school and a T20. I can see myself being equally happy at both schools, so my decision comes down to cost and school ranking/prestige. T5 will cost $150k more than the T20. It seems like an easy decision as I would be in significantly less debt with T20, but a big question I have is about "prestige."
Most of the threads about T5 schools in the Help Me Decide forum vaguely mention that prestige is important and that going to a highly-ranked school would make it easier to match into top choice residencies and pursue academic careers. I'm not sure yet which specialty/residency I want to pursue... could be something more competitive or not, and I'm not really interested in academic medicine. I see comments that suggest one take on significantly more debt for these T5 schools, then pay off the difference when one begins to make more money as an attending physician. And I would be willing to do that, if it really were the case that the more expensive and higher-ranked school significantly benefitted my career.
So, what does school "prestige" really mean for a medical student, and is it worth $150k of debt? What kinds of opportunities and connections would I gain by going to a T5 and lose out on by going to less highly-ranked school? T20 is still well-regarded, so is there really even a difference in quantity/quality of opportunities?
I don't want to potentially close any doors (though, at this point, I don't even know what these doors are), but $150k is a lot of money.