Ohio State is actually a more stable program, and is inching into the top spot: I have friends among Indiana grad students, and they all sing the praises of OSU. Another thing: more money, so if you get in you'll be supported. The cool thing about OSU is that you can go through English (which I did) or Comparative Studies; both are good, it just depends on what you want to focus on.

/folklore MA from OSU, I'm biased.