No, this is not worth it.
First of all, as someone else pointed out, it may not even be realistic - you can’t borrow that much money on your own.
Second, it is extremely unlikely that you will make enough money out of college to repay $115,000 in loans. Even $48,000 is pushing it, but for a business major may be a little more feasible. You wouldn’t “think twice” about the huge difference between this because you have no idea how much impact repaying this would have on your life yet. It’s basically Monopoly money to you right now. But as someone currently in the beginning of my loan repayment, let me tell you that there is a huge difference between a $558/month payment (already pretty high but manageable on a business salary, particularly as time goes on) and a $1328/month payment. $800 a month is a VERY big difference. There are a lot (a lot!) of things you can do with $800 a month: live in a better apartment, drive a nicer car, buy better food, go out to eat more often, save more for retirement, invest, or squirrel away an additional $10,000 a year.
Consider also that you may want to go to business school, and that MBA programs are almost always financed entirely by loans. If an MBA program ends up costing you $120K, you’d be adding that onto your undergrad debt for a total of $225K. That is a truly frightening amount of debt, even for a young MBA. That’s a small house in some cities.
If Michigan State would put you $67K in debt, it’s honestly probably better to stay at CC for two years and then transfer as a junior. You also may get another shot at getting into Michigan if you do really well in CC. But if you don’t want to go to MSU, and you can’t get into Michigan, you should at least try applying for some private colleges that meet financial need for a transfer student and/or give generous financial aid.