I think that it depends on the individual. My older one is looking at liberal arts schools, as he is better at humanities courses and wants a smaller school. My younger one will probably look at a larger state school, as she is much stronger in math and science and hopes to go to graduate school (which will have more costs).
When I looked at schools, I knew that I liked both and was strong in both, so I chose a small liberal arts school with a strong science program (lots of research opportunities) and an honors program in humanities... It does take some looking, though.
