Hey, i try not to get caught up in this, as i am doing a degree...
From what i have read, from what i have been told, there is NO need to do a degree to get the right or even left hand seat.
So why get a degree? Its a fall back plan, if you are young, it gives you a few years more to mature, it teachers some good life lessons.
I am coming out of my degree this year and going integrated or maybe modular? not sure yet, i am going to pick it back up in a few years time, full time if i have no job, part time if i get a job.
I personally think i have learnt lessons from Uni, like i dont want to be here, like its not for eveyone (me).
I am willing to take the risk at the end of having no job offers, and i am willing to just get a normal 9-5 if it goes pear shaped and do my degree part time.
One tip, dont think about it to long, decide and stick to it or you'll just go round and round in circles asking yourself what to do, uni or flying.
Oh and as for Uni "life" its so over-rated, i had more of a social life before, now i have a less social life, less money and when i do go out a few days a week its so crap as i can afford just a few beers. Or i might just be a bitter student, and not managing my money right.