Why do people insist that a degree is a good back up plan. It's isnt. Please stop advising people to go off to uni, rack up 10,000s of pounds of debt, do a degree is something less than useless, when all they want to do is go and fly a shiny jet. They will learn soon enough about debt when they start flight training.
Seriously, you have a shelf life of barely 18 months on a freshly issued degree in which time you have to go and get a job related to the field of study. After that, if you don't have secured yourself on some graduate scheme, you may as well kiss goodbye to your degree. Case in point, I did an mechanical engineering degree 13 years ago, do you think that I could apply to "Spods Widgits and Co" in Ipswich as a graduate engineer? I'm sure the interview would be short and blunt. Do you think I remember anything from my degree that isn't related to women or alcohol. No. Its like flying, if you don't keep current, be that in engineering, architecture or medicine, you lose your skills. If I lose my medical or get turfed out of my airline in the next week, I don't have a backup plan and my degree (if I could find it) is worthless, as are my A and O Levels. Don't saddle yourself with extra debt for no reason.
My advice to the original poster is to get yourself a trade that you can use to fall back on. Plumber, sparky or brickie are all apprenticeships that can lead to a decent standard of living after a few years, with no associated debt. I know one pilot who's backup plan is to drive HGV lorries, it's a simple qualification that requires no renewal, barely any medical restrictions and if you're prepared to work, can provide a very good income.
If you want to be an engineer first, then go and do it. It's a reasonably well paid job which isn't a ballache to get into, and will definitely help you for your first job. My old company would have bitten off your hand if you came for an FO's job with a full engineering ticket as well. Having a B1 engineer rated first officer whilst down route somewhere is alot more useful that a bog standard FO.
Getting a degrees is not the holy grail for wannabes.