Plan II Honors at UT is pretty special–what about the honors programs at your other choices? I would think you qualified if you were admitted to UT’s program.
Re “prestige” it is not always worth the money. There are about 20 names or less that open doors just by being on your resume, then a long list of “good school” schools where how much it matters really depends on region, program/major, or who you are talking to (and things like recognition from sports programs plays a role here). People on this forum waaayy overestimate the name recognition of some admittedly very good schools, but still schools that most people will have never heard of. Most LAC’s, for example, will be recognized by alumni of that school, alumni of peer schools, and people in the region–but that is it. You go to that LAC for the terrific education you may get in that learning environment, and not because an employer 1,000 miles away will have heard of the school.
The real issue when it comes to assessing the worth vs cost is the question of how much your student loan debt will be when you graduate. For that you have to know (1) an accurate number for your family contribution, (2) your family’s willingness/ability to meet that number, and (3) what your financial aid package looks like grants vs loans vs scholarships. Sticker price, assuming you are eligible for financial aid, is not a reliable barometer for this. Figure out what your likely aggregate student loan debt will be when you graduate, double it, and imagine that number divided into 120 or 360 monthly payments (i.e., 10- or 30-year payback of the debt). Then think about whether you intend for professional school (“graduate school” in an academic field is different because you should be able to obtain assistantships and the like for tuition or more–no one in their right mind pays for a graduate degree in Philosophy, Math, or other liberal art). If you go to professional graduate school (law, medicine, business), scholarships are FAR harder to come by and you will likely be relying heavily on loans. Then amortize THAT debt over 10- or 30-year payback in monthly payments. Again, if you go to graduate school IN Biology or the equivalent, you should have the opportunity to pursue a MA or PhD tuition free, so do not get obsessed about that expense.
Student loan debt for undergrad plus professional school can easily be equal to or more than what the mortgage would be on a first (or even move-up) house, and therefore makes starting your life and a family more difficult. I know far, far too many people who borrowed $100k for their undergrad degree from a private or OOS state school that was good, but not “wow” good, then another $100-150k for a similar law degree, then proceeded to be miserable and complain about how they could not afford a house, or could not afford to take the dream jobs (public interest versus large law firm lawyer), whatever.
All that being said, going to the cheapest college you can, one where everyone blinks and thinks of the loser they went to high school with who went to the same college, is not a good choice if you have better options because of your academic achievement.