let's say get a great starting job paying $50,000 per year

I think that is a pessimistic number, but not sure. Average starting salary of 2006 graduates from the business school was $60,664 and the median was $55,000 with the middle 50th percent between $51,000 and $60,000. In those terms I would not call $50k/yr "great".

The flexibility of having the least debt on graduation is something that will allow you many more options.

I think this is one of the major draws to paying school instead of investing, and I am having trouble deciding which is better, to focus on the social aspects such as the flexibility, or the financial aspects. I guess I should consider a mixture of both as I don't think one is necessarily more important than the other.

-Will