I wouldn't bother with the degree you will lose 3 or maybe 4 years seniority which means loss of earnings. I lost 10 years seniority by being an atco first. If you apply to all the major airlines now you should be OK to obtain a job in the near future. You could even start your degree and keep applying. You could get a job and build up your hours and then instruct, it is up to you, but I would not bother with the degree.