Di Vosh has hit the nail on the head.
Do YOU want to be a pilot or not?
Overly simple question but the answer is very important.
I also started an engineering degree in the late 70's (back up idea and all that as an excuse) and started my PPL midyear. It became very clear that all I wanted to do (and needed to do) was to put all my energies into my flying career.
I subsequently dropped the degree and worked for 12 months to pay for the CPL etc and have enjoyed every moment ever since.
If I had completed that degree and lost my licence today that degree would be useless.
Considering the cost of both a degree and a CPL/ATPL either you are uniquely cashed up or you are willing to commit to some serious debt.
My forecast would be that if you start the degree it will be unlikely that you will want to start again on the CPL/ATPL - or accept the character building jobs in the NT/WA/NQLD that make or break new pilots!
As far as an 'Aviation Degree' I have very little knowledge but I am very sceptical of their worth and have not heard any good reports from those who have completed them.
If you do choose the degree then choose what you will be happy with not what someone 'thinks' is a good degree to have.
If you can accept that you are putting 4 years of hard work, 4 years of lost wages, and maybe $100,000 in HECS fees in a drawer which may never be opened then go for it.
I certainly couldn't do it today.
Good luck in whatever you choose