Neither. You should pursue entry-level certifications, such as the A+ and Network+. After those, you might consider picking up one or more Windows client certifications (MCP on XP, MCTS on Vista, and/or MCTS on Win7). However, I wouldn't recommend pursuing any certifications beyond those until you get some real-world experience under your belt. The MCSA/MCSE and MCITP on Server 2008 certifications are designed for people with server administration experience. Cisco certifications are designed for people with Cisco router administration experience.
Keep in mind that certification is not designed to show employers what you WANT to be doing... it is designed to show employers what you ALREADY have experience doing.
Do you mean that you are graduating in May of '12? May '11 has already passed!
Had you come to me four years ago, I would have recommended that you pick up those certifications AND get some real-world entry-level IT experience NOW, while you're in college.
Hope this helps.