Greenfreddie,
I agree/disagree with your comment on University degree. It really deppends on the course.
There are many courses at University that are a complete waste of time, and will most likely get you a 16k job however there are many jobs out there that give you the opportunity to make some big bucks i.e accountants, lawyers, doctors etc.
I personally believe that the Aviation Technology With Pilot Studies course is a waste of time. If your wanting to get a degree, do your degree in somehting else other than flight training, this will give you a backup and a bit more experience in different areas.
If you don't fancy doing any other courses, just do the ATPL course as usual and ignore the degree. It costs too much time, effort and money to study a course that isn't really goign to give you an advantage, especially in an industry that bases a lot of it's selection on the candidates skill, not necessarily qualifications.
If your in Scotland, I would highly recommend going for a degree because it won't cost you a penny.