I think someone else might have mentioned this already:

Facts:
- Tuition always go up.
- You'll earn your least amount of $$$ during the first few years of your career. Think about your hourly wage.
- In 10~15 yrs, when you get to middle or senior management, it may be difficult in managing people with more advanced degrees than you do.

Conclusion:
- Pay the lowest tuition while your hourly wage is still low. You'll lose out a lot more if you delay getting the degree (higher tuition and you will be spending higher waged hours studying).
- Master degree helps you in the long term to rid of any doubt of your ability/credential

Personal note:
As someone who has worked in the industry for almost 20 years around the world, I can tell you a good number of you future bosses/clients will *care* what degree you have and which university you got it from. The extra 2~3 years of junior level work experience in place of a degree will not gain you any favor on your resume.

I believe one element we left out from most of the responses is the importance of human/job networking different schools provide. Better schools (or more prestigious schools) tend to attract better students or students from well-to-do families (either politically or financially). It's not unreasonable to predict 5-10% of your classmates at MIT/Harvard will someday be CEOs or CFOs of certain corporations. It's definitely in your favor to start fostering your network as early as possible. Not to say merit alone is not important, but merit+human networking is a killer combo.

Mizzle