Aviation is entering one of it's periodic downturns, just as it does every 7-10 years or so. Jobs for newly qualified pilots will be very hard to find for the next 2 or 3 years, but the industry will eventually pick up again and come back stronger than before - it always does.
Now is the time to slow down your training, work full time to fund flying in your spare time. That's what I did, the CPL/IR (or frozen ATPL, which is what I think you're referring to) took me several years and cost around £45k, but I managed to pay for most of it as I went along, and my debts are very small compared to many people.
As to whether it's worth it, well no-one can tell you what to think, and you are wise not to underestimate how difficult it is to make it to the airlines. But - and it's a big but - now I'm there, I think it's the best job in the world. I'm being paid to do my hobby, I love going to work every day - hell, I even miss it when I go on holiday - how many people can say that about their job? No two days are the same, and the view from the office window is spectacular. Was it worth all the cost and heartache to get there? Absolutely.
My story, for what it's worth:
http://www.pprune.org/interviews-job...-my-story.html
Best of luck.