When I interviewed there I stayed at a hotel in Philly and drove to the school. It was about a half hour commute, give or take 5 minutes. I didn't run into any real traffic, but I don't know if it's like that every day. Don't know about public transportation, though.
I had a friend who was considering living in Startford and going to school in Philly. He changed his mind once he weighed the pros and cons of driving every day.
It can be quite expensive if you add up gas $ (especially when sitting in traffic) and tolls.
You also have to consider how often you will be making the trip. Certainly not a trip you want to make several times a day to go back to school to study, meet up with a group of people, or for an evening event.
Take the leap, stay in Philly. What a wonderful place to be.
It probably wouldn't be _cheap_, but yes, it is convenient. I know quite a few residents who commute from Philly every day. Of course, they usually have to be there at around 6:30am, so traffic really isn't a problem...
I don't know much about the bus system, but there is a train station essentially across the street from the school that connects to Philly. A ticket is about $3 (one way). I'm not sure if you could get a discounted commuter rate. It's also an easy drive by car- if you don't go during rush hour. (Yeah, yeah... I know.) I can make it into Philly from Cherry Hill in about twenty minutes without traffic. It's $3 or $2.70 (E-Z Pass) to go over the bridge, but you only have to pay one way, of course.