You need to manage your debt. You need to manage your debt. You need to manage your debt!
What I mean is, go to the cheapest school you can for undergrad! A ME degree from DU will get you the exact same job as one from CSU, for the exact same pay, except you'll be drowning under a mountain of debt from DU. (Unless you get a full ride, or have exceptionally nice parents)
For your MBA, your job prospects are very much tied to what program you graduate from. Unless you end up in a top tier program, like an Ivy League school, Stanford, Univ of Chicago, etc, it's not worth spending the cash to go to a second tier, private school. At that point, go to the cheapest program you can find. The big companies are going to recruit out of the top ten schools (Ivy's) and pretty much ignore the rest.
Don't put yourself in a hole financially before you even get started.
'98 M3, track beast
'06 Porsche Cayenne Turbo S 521hp daily driver
'07 KTM 990 Adventure