English major
I majored in English Lit., but there was still a fair amount of rhetoric and linguistics study. The emphais simply changes, particular in the final two years.
All three teach grammar, but English Lit has a focus on reading and writing, and generally includes, or qualifies you for, advanced creative writing classes, and is a better lead in to an MFA. Some very good creative writing courses have a prerequisite of of an English Lit. major.
Like anything else, MFA programs range from horrible to wonderful, but they are getting better, and more and more MFA programs are placing an emphasis on real world writing and publishing, rather than the old emphasis of strictly "literary" writing that may not get you far.
An MFA program also stands you in good stead if you want to be an editor.
In my opinion, teh real value of a good English Lit. program is that you WILL read and study a ton of great literature, or you won't pass, and you will have opportunity to take some very useful creative writing courses, and you will spend a lot of time parking your butt in a chair and writing.
An MFA is something you'll decide on later, maybe in your junior year, and at that time you'll know far more about MFA programs, and whether you can find one right for you.