copying and pasting a post that's relevant to your (and many others') decision. (link:
http://forums.studentdoctor.net/threads/need-help-choosing-a-medical-school.1070503/#post-15220563)
"I don't think the effect of the debt is quite that significant in this case.
Debt seems like it'll have the worst effect during residency. At that point, anything you're paying back is actually a significant percentage of your salary, and it thus has the potential to have a significant impact on your quality of life or at least your ability to save via a 401k, etc (losing 5k a year when you're making 50k pre-tax is a big drop).
When you're making 6 figures as an attending, debt seems like it will have a drastically smaller impact on your quality of life as your debt payments will 1) potentially be a smaller percentage of your overall salary anyway and/or 2) you'll still be making 6 figures, so even if you are paying the same percentage of your salary the larger absolute magnitude of your salary will help insulate your quality of life/ability to invest/save, etc.
Thus, for me, the calculus is broken into the short term (aka debt during residency) and long term (aka debt while an attending). One is significant to think about, the other a bit less so for the reasons I outlined above. As such, if you were comparing 0 debt to 100k, I would go the 0 debt almost every time (because in the former case you don't pay back anything during residency, giving you a significantly usable higher income but in the latter case you are), but if you're comparing 200k to 300k, I think you go with the school you like more. Yes the second example is still a 100k difference, but you'll be paying during residency with either choice, and while you'd pay longer with the 300k, once you become an attending I think the effects are felt less, or at least below a threshold of significance, so while it will be a hinderance to pay back longer I don't see it as decision-defining.
That's just me, and don't get me wrong, it's still 100k difference which I know is not trivial. Also full disclosure, I didn't even look at schools on the west coast, so I don't know anything about the specifics of USC vs. UCI - if everything else is equal, then I would still use cost as the final differentiator, but if you were leaning towards USC, I wouldn't."