I'm not particularly familiar with UConn and Babson, and I'm not even from New England. But my gut is telling me that Babson is better than UConn overall, but UConn has a larger alumni base, and a much more active one too, at least in large part due to the fact that the women's basketball and men's basketball teams are elite powers, esp. the women's team. however, the UConn PT program according to their website is in Hartford, Stamford, and Waterbury, which aren't closer to Boston, which is where I assume you are closer to. So if you are a great networker, etc., UConn looks like a good choice.
If you live closer to Boston than Hartford, I would strongly consider Boston College (I even got solicitations from them a month ago but I'm in DC so no point applying there). It also has a large and active network like UConn does, and is an overall better program than UConn and Babson, minus entrepeneurship. If your employer is willing to pay for your MBA, then I would think that they would be willing to pay for Boston College as well, unless the CEO at your company is from UConn and is bitter about BC's departure to the ACC perhaps. but that is a very petty reason for not footing some of the bill at one of the best regional programs in New England (I know HBS and MIT are there, but they are more national).