I love USC and hate UCLA because I attended both schools (USC for undergrad, UCLA for grad) and I know for a fact: You get what you pay for.
I love USC for its tradition and pride. I love USC for its beautiful brick campus, its true and enduring sense of Trojan Family, its glowing gold and deeply rich cardinal soul.
I hate UCLA for the fans' unclassy behavior, the baby blue and anemic yellow colors, the feeling that you are just one number among many when dealing with administrative staff.
I love USC for its continual striving to be more. I love that USC has risen through the academic ranks - it is only 2 spots below UCLA in US News and World Report and I expect the university to overtake UCLA in the coming years.
I love that as a USC student, I thought I could do anything.
I hate UCLA for borrowing Cal's fight song (come up with your own, plagiarists), for their silly eight-clap (good thing they're not asked to count above ten), and for their cartoon bear sidekicks ( Ranger Smith called and you're needed back in Jellystone Park to annoy tourists). I love USC for how easy it is to parody UCLA's eight-clap and fight song.
I love USC for its original fight song, and for turning film scores (appropriate for the best film school in the world) into "Conquest" and "Tribute to Troy." I love USC for how much other schools despise it when we play "Conquest." I love USC for the SoCal spellout. I love the classy 'SC Song Girls, who don't need to show oodles of flesh to be gorgeous and sexy. I love USC because our male spirit leaders get to wear athletic shirts and shorts, unlike their counterparts in the dorky polyester blue duds (emphasis on dud.)
I love USC because Troy Aikman dared to play for UCLA with a name like his and lost every head-to-head battle with 'SC, even when Rodney Peete had the measles.
I hate UCLA because they can't even match their band uniforms to their cheerleader uniforms to their football uniforms (but if I were in the UCLA marching band, I'd refuse to wear baby blue, too.)
I love USC because the Spirit of Troy Trojan Marching Band has a platinum record to their name ("Tusk" with Fleetwood Mac), has appeared in numerous films and TV series, and has played for presidents and popes. And they are generally regarded as one of the top college marching bands in the country. I hate UCLA because the most outstanding feature of their band is that they dress as if they attended Cal (but again, I can't blame them for not having pride in their school or its colors).
I could go on...