Bring a large pot of salted water to a boil. Add the macaroni and cook according to package directions until al dente. Drain and return to the pot.
Sprinkle the cooked pasta with salt, pepper, garlic powder, onion powder, and paprika. Stir to coat evenly.
Add the butter to the pasta and stir until fully melted.
Add half of the cubed Velveeta cheese (8 oz) to the pasta along with a splash of milk. Stir until melted, then add the remaining Velveeta with more milk. Continue slowly adding the milk while the cheese melts until you’ve used 1 ⅓ cups in total.
Once the Velveeta is fully melted and smooth, stir in the shredded cheddar or Colby Jack cheese. Mix until creamy and well combined.
Enjoy warm as a main dish or a comforting side.