Wow, lots of responses here.
On the financing issue: I went and had a talk with one of the banks about getting loans in the US, and the bank said that while it was possible, it would be considered a personal loan with a higher interest rate as I am not a US citizen or permanent resident. So that's a big drawback as not only would my debt load be a lot worse, I would be paying quite a bit of interest on top of that. I have been told that Stanford does have an amazing LRAP program, but I'm not sure if that's applicable to foreign nationals as what I would have technically isn't a student loan in the US.
Furthermore, the question of what I want to do is still up in the air. I'm just a naive 0L, but I am somewhat certain that I am interested in Biglaw, but leaning more towards litigation. If I had to choose a US market, I would be the most interested in Washington DC, as litigation involving the SEC and other federal regulatory, as well as appellate matters are mostly handled in that jurisdiction. Of course, the problem is that the DC market is extremely competitive and even though HYS seems to do well in that market, we're still talking about the top of the class that find positions there. The other default option would be NYC Biglaw, which I'm not really all that interested in when compared to Bay St., considering how much more cutthroat and stressful the environment is for the extra pay (going by the high billables and large associate classes, plus $160K in NYC isn't all that much better than $90-$100K in Toronto). Even though Stanford does seem to place very well into Biglaw, being at the bottom of the class is a bad position to be in. Furthermore, when the economy starts going sour and firms are looking to trim the fat, it won't matter what school you come from. So there's multiple levels of risk here, first is gambling on the small chance I might make it into the market I want, then actually staying there, whether it's on my own incompetence or as a consequence of the economy. Furthermore, I expect that being Canadian will work against me when dealing with firms there, considering the complications involving the visa process while these firms can still have their pick of very qualified US citizens.
As for grading and competition, even though they operate on an Pass/Fail designation, in practice the presence of the "Honours" and "Low Pass" grades basically make the system a re-worded version of the traditional grading system without the refining +/- grades. Getting straight Ps at Stanford is still an unideal spot to be in. The idea of competing with best and the brightest students from elite schools in the US is also worrisome, but the same can be said for both UofT and Osgoode which is also filled to the brim with the top students in undergrad, many of which probably could have succeeded at these elite American UGs anyways.
So really, the logical choice for me to make is Osgoode considering the issue of money, and my desire to stay in Canada. It's just terribly difficult to get over the thought of me turning down such a prestigious school, one that I feel (likely naively) will have a greater "wow" factor on my resume, even though I realize that school names don't count for much once you've been practicing for a few years, so it might not be very beneficial to my career and create a lot of additional hassle (i.e. going through NCA).
I realize how irrational everything seems once I write it down on paper, but I just hope that others can understand how much of an honour and a dream come true it is to be offered admission to Stanford, coming from a family that had very little education.
I would take solace in the fact that if I were to turn down SLS for Osgoode, I would not be the first to do so. One of my classmates was accepted to Harvard, and he ended up going to Osgoode based on almost the exact same reasons as me.
Edited by tng11, 26 January 2012 - 11:08 AM.