hope i can offer some (abeit biased help).
I went to Carleton University School of Industrial Design (grad with coop program 2001).
In my opinion, Carleton has by far the best ID program in Canada, and is well recognized internationally (although perhaps not as much as some of the top US programs, given the relatively small number of grads coming out of the school).
The program is a well balanced program, somewhat more practical/engineering focused than many other ID school that take a more “art” approach to ID. Required courses (at least when I was there) included mass production technology, engineering statics, physics, calculus, marketing, psychology, etc. in addition to the usual ID studio and theory courses.
As a result, most of the grads from Carleton seem to be well prepared to get involved with real ID work, coming from a good experience of practical design experience and understanding of user, consumer, market and manufacturing issues.
The only down-side i can offer of the program, (although I believe this is changing in recent years), is that being so practically focused, there isnt as much focus on skills (ie. sketching/rending) and concept development as in some other schools.
From what ive seen at a few humber ID shows, the program can offer some good education, but seems to be lacking in real-world knowledge of things like manufacturing, business, engineering, etc., instead offering a more basic and skills focused education. if someone here has more direct knowledge of the program, please feel free to correct me. at the same time, however, i should note that good work can/does still come out of humber, as ive seen a few humber grads move into good positions in various companies/consultancies.
i dont think the college/university thing is as much of an issue as what/how you’ll learn and your experience/portfolio coming out the program.
as a suggestion to help better evaluate, i’d suggest you check out some coroflot portfolios from students/grads from both programs to be able to better evaluate the skills/work produced by both schools.