I belong to a south asian country. I got BS Electronics Engineering degree from a Leading Government Engineering University of our country almost 10 years ago. Now I am 33 and I am considering to pursue masters in Bio medical Engineering from a low ranking private university (despite the fact that it is private and low ranking, it is still approved/recognized by Higher education commission of our Country) . I am considering this university because it is near to my job place but if I consider high ranking universities I will have to travel a lot which may not be easily possible keeping in view my current family and job commitments.
So my main question is that if I pursue Masters in Biomedical Engineering from this low ranking private university, will it reduce my chances of securing Phd scholarship/funding especially when considering Phd in Europe and US? Or does the ranking of university not matter in such a scenario, as it is mainly research and thesis of a Masters that determines chances of securing Phd scholarship/funding?
Update: Please note that I am already currently doing a teaching job for the last 5 years and I am a Lab instructor/teacher in a BS Electrical Engineering program of a good ranking university, but my university doesn't permits you to study for a Masters while you are on the job so I have to consider other universities for Masters.