I don't really think either school will be a waste of your money. I've seen plenty of jobs in both options. However, you indicated you want to develope software? If that is so, then go to school #2. I think it would be helpful to do some researching on your own if money is a really big concern. Look on some job search engines like flipdog, monster, and yahoo hotjobs, so you can see first hand what is available. There are so many variables in your decision....you should consider available jobs (as you've mentioned), feasibility, what YOU LIKE, etc....

My advice/opinion is to come to the table with a pretty good idea of what you want and then ask for specific objective advice.....most opinions (mine included) carry very little relevant weight when taken out of context.