I got my masters degree at the Technical University in Ilmenau. Ilmenau is a small university with very good reputation in central Germany. I did my degree and thesis in German, full immersion. Before that, I got my B.Sc. at the University of CA in Irvine (UCI). I had the GI bill and could have attended any U.S. public university tuition free. I went to Germany because I wanted to. Even without tuition, I still had to pay for living expenses, books, supplies, etc. and had a work permit so I could work part-time to make ends meet.
Having experienced both systems, I would say that the academics were comparable. I think the choice of where to study depends on whom you want to meet and what kind of career you would like having afterwards. The U.S. is closer to a lot of the innovation in computer science, so if striking it rich at the next big thing in Silicon Valley is your ambition, you could probably get better contacts at an American University. Germany has a more traditional industrial economy, a lot like the U.S. was before about 1970. Germany designs, develops and makes a lot of their own stuff. Studying in Germany helped me gain a lot of invaluable contacts in the German "Mittelstand" or mid-sized industry. Germany is one of the few places that still combine product development and manufacturing under one roof and there are a lot of advantages to the 'old-school' way of doing business. It might not be as sleek as "designed in California, made in China" but it's the best way to ensure consistant quality, especially in more complex, safety-critical industries.