You should compare the income prospects for your chosen major vs. the amounts of student loans to see if taking on more loans is going to be too much of a burden. Do you qualify for some sort of selective honors program at the school where your scores are far above the average? Perhaps try to visit the school and talk to faculty members in the area that interests you. Would they let you get involved in projects that could actually lead to better study experiences than at the more competitive school? Also, consider what kind of help the school can give you in terms for relations to the industry and internships.