That's a good question Yuvraj,
One needs to first decide what works for them and what are they seeking as their long term goal. Once you are able to answer specific questions, it will be an easy choice to make -
Do you value set theoretical studies or action based learning
Do you want to be focused on one subject or learn about several spheres
Do you wish to pursue other academic interests outside college
How long do you wish to continue studying ? 3 years or longer
Traditional colleges are more theoretical, focus only on the core subject, allow you to pursue CA, CFA and other interests, and are for 3 years.
Start by answering this about yourself and you will find what works best for you.