Leeann:
Congratulations on getting closer to your graduation from college. What an achievement! And what better place to celebrate than Walt Disney World?
Choosing between January and October depends on how you define the word 'best.' October brings mild weather yet warm enough to enjoy the pools. You'll find the parks decorated for the season,
Mickey's Not-So-Scary-Halloween Party running several nights a week at the Magic Kingdom and the
Food & Wine Festival at Epcot. Typically, though, the crowds in October tend to be thick until the end of the month with folks doing what you're looking at considering: traveling during fall breaks. The Law of Supply and Demand due to these crowds will find yourself paying more than January prices.
January brings lower crowds after the New Year's throng departs. Even with the guests who attend
Marathon Weekend the second weekend of the month, crowds are more manageable than in October, in my opinion. However, the MLK holiday can bring visitors back and will be priced differently than the Value Season prices for the rest of the month. Lower crowds, additionally, mean that Disney may close some attractions for refurbishment in addition to one of the two water parks that is routinely closed during the winter months. January weather can be unpredictable allowing for shorts some days but possibly requiring winter coats the next.
If it were up to me, I'd choose October for the festive atmosphere and decorations along with weather that allows you to pack a little less in order to save room for souvenirs.
Wishing y'all a magical vacation!
Whitney