I think R44flyer has pretty much hit the nail on the head with his/her post. You dont need a degree to become a pilot, but as has been mentioned it is another string to your bow.
I went down the Uni road, however, not really through choice, as I was trying to get sponsorship, which I was not successful with. As R44 said, going to Uni and maybe even working for a while is great life experience.
The company I presently work for have been taking alot of new pilots, and some are very young, I cannot imagine what it must be like at the age of 20 to be an airline pilot!
Good luck with what you decide to do, and enjoy it
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