These is a yuk that my daughter knows from HS that is a year ahead of her. They were acquaintances in HS, but barely run into each other now. Rivals? They are in different companies and both are very busy with classes and different sports and responsibilities, so I doubt they have time to be rivals in anything.
Are you afraid that you and friend may have a falling out if you both go to WP? My experience having two older sons doing college has found that two strangers make better roommates than two friends. When friends start rooming together, it's usually the end of the friendship. If you and a friend both go to WP, I doubt that you'll be roommates, or even in the same company. Whatever relationship you and your friend would have will be up to you and your friend.