If you plan to excel, I would choose the UMASS option, do research with a well-known professor, excel and perhaps go for a PhD, which will be fully funded) before you return to India. Having a well-known professor write that you are a top student is very valuable. This path can be a very lucrative option.
If you plan to be average go with the cheaper UA option.
Also, though UMASS a good honors college, in general, the average student at UMASS is probably at the same level as the average student at UA maybe a B to B+ student in HS. I don’t know your stats but if your math standardized test score is very high and your English is good, you have a very good chance of being able to excel at UMASS.
There is certainly risk, but the upside is higher with UMASS in my opinion.