Well, you have two very good options. Congratulations!
Is UGA secondary admit for the b-school like UNC? Are you aware of the secondary admit parameters at UNC for the b-school? I know they are working to expand capacity so that they don’t have to decline any students they would take if there was enough seats, but not sure what the exact capacity expectations are over the next few years.
Not sure how strongly you feel about business vs econ/poli science. UNC is pretty highly ranked (and higher than UGA, but UGA is still well ranked) in all three fields you mentioned, so all are good options. Econ and poli science are both declared majors.
I have a student at KFBS, so can speak to UNC but do not know much about UGA other than b-school is T30 (UNC is T10).
My D was in similar shoes to yours (except $ factor) 2 years ago with similar thoughts. She ultimately declined direct admit to Darla Moore b-school + HC at UofSC for UNC non-honors, including gambling on KFBS admit. We are instate, but UofSC merit made net cost pretty close to UNC in-state.
We have found that being in honors or not at UNC is not a big differential like some other schools. If you look at stat ranges for incoming students for UNC honors and UNC overall, they are very close. The majority of non-honors students at UNC probably got into an honors college somewhere else, but chose UNC. Just having the UNC part opens doors.
So, IMO not being in honors at UNC should not be a significant dissuading factor.
My student so far is having an amazing experience at KFBS with solid opportunities. The other students particpating in those opportunities tend to be from other T10 type schools (Wharton, Ross, etc).
She’s also taken several poli science courses and has liked them. Econ classes have just been the pre-reqs. They were challenging but she did fine. She really enjoyed first year experience overall pre-COVID as well.
Good luck on your decision making! I know it’s not easy. My D finally decided at the 11th hour because she couldn’t put it off any more .