Leaving, or left behind?

Im at a crossroad. The decisions I make now will decide the path my life takes in the future. Such grave responsibility to place on young shoulders.

Funny how life works. That we have to make up our minds about the rest of our lives at a time where we know so little about the world. How the world works, how it might affect us, so much that we dont know, but yet, it is at this time that we choose our future.

Im obviously flustered about university. As if it wasn't hard enough choosing a course to enroll, now I have to pick the correct university as well. There can be no mistake, considering the money involved in this. So I put it out to you, I'd love to have more opinions!

Situation:

Monash is located in Melbourne. Melbourne has a high living cost. Queensland would be cheaper. Queensland also is more fun, according to a reliable source. I would like fun, but fun would mean being sidetracked alot. I get sidetracked and distracted alot. I don't want to. I want to be top of my class and graduate with first class honours. Fun would decrease that possibility. But it would be cheaper.

Monash has also offered me a scholarship. $6000 AUD a year is no small amount. I would gladly take it, but money can't be the only factor in my choice of university, can it?

So, I'd love to hear from everyone. Please!