I went to Uni in 1993 - 1996 as:
a) The RAF were closing down RAF(G) and didn't need any new pilots, and
b) The UK was in the depths of the early 1990s recession, Air UK, DanAir, Laker, and Caledonian had all gone recently bust/bought for a £1 and the chances of entering commercial aviation were somewhat shorter than nil.
By 1997 things were picking up, PPRuNe had been invented, sponsorships were starting to appear en-masse. By 1999 I had jacked in the graduate job and become a full time flying instructor. Those years at University were an excellent holding pattern whilst the economy and the airline sector nosedived and recovered. I still see Uni as having that function today.
I was lucky that I had a lucrative summer job, I was in the UAS flying a Bulldog and Uni was free back then under a Conservative government.
The years 18 - 21 will be special and amazing whether you go to Uni, travel the world, start a shoe shine business or work on a building site. The small amount of study, high expense and length of time required for an average degree are all good reasons not to bother. You CV will stand out and look far more interesting if you spent 3 years sailing boats as part of a qualified crew than it would if you got a 2:1 from Hull in Geography.
You'd be less in debt and would have experienced a fair bit more of life than you would have done living in a student doss house getting up for the afternoon Neighbours episode. You'd also have a sun tan, a bit of cash in the bank and some amazing pictures that don't involve a mortar board or a traffic cone on your head.
Sept11th resulted in an 18 month 10% decline in traffic numbers and two EU airlines went bust (Swiss and Sabena). The coming oil price spike, recession and war will result in a far worse and far longer decline in traffic numbers and far more airline failures.
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