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Although I have taught college for many years (with an MS and PhD), I also pursued alternative certification as a secondary teacher..it pays a lot more than teaching college. Most of my classmates pursued an MEd along with their alternative certification; Georgia has many programs where one can do that and the pay for a public school teacher with a graduate degree is really good. If your state does that, I'd say go for a master's with the alternative certification.
My daughter is doing alternative certification in Spanish after getting 2 degrees in recreation (she also got over 30 hours of Spanish as an undergrad). Since she already has a master's, she's getting paid for that on the job now but I've advised her to go into one of those programs where you get your alternative certification and your EdS all at once.
If you want to teach college, you should go after a master's in your subject area. Usually a college won't be real big on hiring someone with an MEd unless you're trying to get a job in the college of education. If you want to teach public school for awhile and then maybe college, I'd say get your master's in the subject area but pick up the education courses you need to get certified as well. That way you're covered no matter what you choose to do in the distant future.
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