I agree - some of the American schools are amazing. I personally was amazed at the amount of money that must go to these schools, especially the private ones with large private donations. Plus the school atmosphere (and college sports) is very different and exciting too.
I knew a girl who had a choice between Vanderbilt and Columbia, and chose the latter even though they offered less funding. But her family is very wealthy. So I know it happens, but I also see a lot of people applying as a back-up. I guess some of them fall in love with a great American school. And I hope I don't offend anyone by saying there is a big difference between Vanderbilt and say, Wayne State (extremely Canadian friendly but with high tuition and not one of the "impressive" schools.)
moo - congrats on having what sounds like a wonderful experience at NU and being able to work slavishly to pay off your debts. I probably have less debts that you did, but they are making me anxious. Doesn't help that I overheard some senior residents/fellows talking about how difficult it is to find a job. I swear I never worried about money until recently when repayment is expected