A friend recently told me about his father getting his bachelors in engineering, then after that got an MBA in business. I'm currently in mechanical engineering right now. Can someone tell me how that would help me? I'd also like to know how long it would take to attain both of those degrees.

Focus on getting your BSME. A BSME makes as much money as most MBA's. With a MBA in lets say project management, you are more likely to be promoted. You are less likely to get to do any real engineering.

If you just stay in school, it will take a year and a half. Or (MBA test question) $120,000 in lost economic opportunity. Verses a potential 10,000 more a year.