If you have a beater and you're worried it might not make the trip, I'd recommend flying. Otherwise, you can make quite a bit of money driving there and back again. They'll give you at least four travel days each way, plus the mileage. If you fly, they just pay for the flight ticket, it's on you to get the taxi to and from the airport, etc. But I had a few people in my class whose cars were not up to the journey. One broke down on the way, another had their battery die in the parking lot. You do get to use your car in candio phase a few times, especially getting closer to graduation. There's a dry liberty, a wet liberty, and then if your family comes out for Hi-Moms and everything, you'll probably get a chance to go out to dinner with them that week. So there are a few liberty weekends, but then again, if you're gonna be drinking anyway, that defeats the purpose of having the car.
Anyway, to sum up, if you think your car will survive the trip, and you want it for ferrying the fam around for the last half of graduation week, I say bring it. Otherwise, fly and split a cab for liberty weekends.