Uni
Good: Far more forgiving environment, much more time to have fun, freshers week!, guaranteed 3 or 4 years unless you make a real mess of it, well rounded life experience.
Bad: You pay for the priviledge, student loans, people calling you 'man' all the time, no guarantee of employment in your chosen area at the end of it whether you pass or fail
NATS college
Good: They pay you to be a student, specialised area with cast-iron guarantee of employment for life (just about) if you pass. Big bucks on the horizon if you keep passing through
Bad: Could be some harsh life lessons if you're not prepared for it, Failed? bye bye - back to square one, bar stool sessions