This is a great topic...seems to come up every year at this time and justifiably so.
My son was in the exact same circumstance as a 2012. Numerous offers with $. Numerous academic school "offers". And the preferred walk on / roster spot offers at the major conference "dream" schools closer to home. It's a very challenging thing for the player and the parents for sure. The advice flowing here is what makes this site so great!
Just one data point which is my son's: The advice he ultimately followed, which he heard repeatedly on this site, was to go where he was loved. Without getting into the details of a very rocky freshman year (injury, social issues, academic challenges, etc.), his college administration and coaching staff stood by him. The coaches also ensured his placement in a top summer collegiate league this past Summer. My sense is if he had these issues elsewhere, like some of his peers from home, he would've transferred already. But his coaches (and teachers and administration) are standing by him.
He is starting his soph year a much more mature and focused student-athlete, with the continued opportunity to make a great impact on the team. Just iterated with him today about some positive academic results and his summer placement in the Coastal Plains league. His team is an "academic" school...opening at Mississippi State in February...yikes!
We are thankful for the advice to "go where you are loved...not where they are just interested". This has advice has been a blessing for us.
Best of luck to your son and family.