Dream747, may I enquire as to whether you've given any thoughts on this degree course. Say, if you're not employed by an airline, what would your contingency plan be? With the degree, what would be your future prospects if you're not flying for an airline be? I hope you realise that it's hard to be employed in an airline as you'll have all sorts of people whom you'll be competing with as well.
Unfortunately, this ties in with the self-sponsored thread somewhere lying around in that there are many people who have paid for their own training & yet, is not employed by any airlines. Take Australia for example, only 3%-5% of their pilots is employed by their airlines which leaves a fair number of pilots around. So, does this mean that you're going to give up flying just because you can't be in an airline? If thats the case, & you can afford it, fine. If you can't, I suggest you have a good thinking through as its too huge a gamble.
I know I sound discouraging, but this is the real world & I don't mean it to be that way but I just want you to weigh things equally before plunging in too quickly.