I realize that this thread is ancient (by CC standards) but I wanted to add something here, just in case anyone currently faced with this decision happens upon this. (Full disclosure: I was offered transfer admission to Cornell back in the 80s and turned it down for reasons that had nothing to do with the quality of the school).
Georgetown is a prestigious school, no doubt, but its prestige does not flow from its academic reputation. In academic circles, Georgetown is not considered a powerhouse, except in international relations and foreign service. In those areas, G’town is undoubtedly top notch. But in more “mainstream” academics, G’town is not held in especially high regard. The school’s prestige stems from its selectivity (which has more to do with its location than with its academic strength per se) and with its history. If G’town had the exact same faculty and facilities but were located in Kentucky, the quality of its student body (and the school’s resulting prestige) would be markedly lower.
Conversely, (and just to be clear, I’m focusing on Cornell Arts and Sciences – the Ivy division of the university), Cornell is indeed an academic powerhouse. It’s especially strong in the natural sciences, but can’t really be considered “weak” in any of the liberal arts. And The Chronicle of Higher Education ran a feature a few years back in which it mapped out “peer” institutions (i.e., schools were asked which other colleges/universities they considered their peers). Guess what? Georgetown had chosen Cornell as a peer but Cornell had NOT chosen G’town. In fact, Cornell was chosen as a peer by Stanford, Yale, Chicago, MIT, UPenn, and G’town was not (Princeton and Columbia didn’t participate and Harvard chose only Yale, Princeton, and Stanford as peers). And Cornell is a member of the AAU (Association of American Universities), an invitation-only group of top research universities, and G’town is not. And I’d say that Cornell’s location (upstate New York in the snow belt) makes it less appealing than the other Ivies. If Cornell were in a less isolated location, with the same faculty and facilities, it would certainly not be seen as a “lesser Ivy” (which designation still puts it head and shoulders above most other schools). In fact, my sense is that Cornell has suffered from its status as the most democratic of all the Ivies, the least concerned with snob appeal, the least bound by WASP tradition. It is first and foremost a place where people go to study and learn. For that reason, it has always been less popular among the prep-school set.
If you’re considering a career in politics, public policy, foreign service, etc., choose G’town over Cornell. But if you’re considering a career in academia (or any other field in which academic achievement is paramount), choose Cornell over G’town.