I had a similar situation 30 years ago. I chose to go on to college and work part time and summers in machine shops. I got a job after completion of a B.S. Degree with a major corporation. They were more interested in my experience than education (everyone else applying had a similar education).
College is a LOT more expensive today, providing the machine shop has modern tooling and good Journeymen to work with I'd take it and continue my education in the evenings if possible. The machine shop may even help fund it, but they will want to stay with them for 2-3 years after paying for additional education.
It is important to build a network in industry. Join professional organizations, dues are usually minimal for students, etc.
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