Artificial Intelligence (AI) is transforming engineering education globally, enhancing access and personalization, but also posing risks, including dependency, academic misconduct, diminished critical thinking, privacy concerns, and equity gaps. This comprehensive review synthesizes findings from recent literature, surveys, and research and outlines strategies to mitigate adverse impacts. Mitigation approaches include curriculum redesign, ethics instruction, AI-use policy frameworks, hybrid assessment methods, and support for human-AI collaboration. The paper consists of illustrative tables, graphs, and a proposed flowchart model of a responsible engineering education ecosystem.