My advice Confusion: Broaden your graduate school search well beyond your "Big Three" and find the program that will be the most comfortable for you as well as fit your budget. The only Columbia master's grad I ever worked with was at a 25k daily. He was hella talented, and making a 25k-paper salary.
Also, do some research into what you'll learn in the programs. I'm in a similar situation Confusion and expect to be enrolling in some sort of program next fall. When I started seriously looking, my thought was, I'll got to a 12- to 18-months long program so I can get it done with ASAP. What I found is the short programs tend to be skills-based. And I don't won't to go to grad school to be bored off my ass because I've got a mountain of practical experience.
Now I'm looking at different kinds of programs that I think will be a better fit, even if they take a bit longer, and might provide some additional skills should I ever decide to get out of this business. I'm also not willing to spend the aforementioned 50k to go to a Columbia if I can get a solid degree for half that elsewhere.
Take a look at this: http://www.washpost.com/news_ed/summer_internships/bios2005a.shtml
Those are the bios for the Washington Post's 2005 summer interns -- of the graduate students only two came from your "Big Three" while four came from UC-Berkeley alone. There are a smattering of other schools in there. So what? It's the intern program, but many of the Post's staff hires are interns or former interns. And it goes to show that you can get there from plenty of other schools.
Go to Columbia or Medill if one of them is the right place for you. But don't go if you expect it to launch you to the New York Times, Wall Street Journal or Washington Post. They're not going to land you there. You'll have to do that yourself and graduate school is not a bad way to get moving in that direction.