<p>I would agree with Marsian^^ that IF you want to stay local when you graduate the best bet might be to graduate from the local university–you have the chance to make wonderful connections with future local leaders in business. law, medicine & politics, etc. (That UofL degree is golden in Louisville, I used to live there so I know what you mean 
) However, if you want to spread your wings and go further afield you might be better served in the long run to have a degree from a more well known institution, especially in certain fields, like say engineering. (Better to have an engineering degree from a Purdue, GA Tech, VA Tech than Local State U.)</p>
<p>That said, the fact that the other alternative in this situation is BYU makes this an entirely different issue. As happymomof1 pointed out, BYU offers immersion in the LDS lifestyle, the opportunity to make professional and personal connections that could last a lifetime and, on top of all that, BYU is significantly cheaper than a local college for a member of the LDS church (I challenge anyone to find a 4 year university, private OR public, with a cheaper tuition anywhere in the nation).</p>