WWW, met one myself recently, never stepped into a light a/c, plums in mouth and from a very well off part of NW London and on CTC.
Polite chap but made my blood boil when i mentioned about the pay to fly contract, shrugged sholders and said 'if i have to pay another 30k + for jet time so be it' What a tool.
It was then I realised is it worthwhile carrying on, working 7 days a week to be up against these daddy pays queue jumpers, there must be 1000s of them out there.
Back to original Q - going to be rubbish out there for years, i think it is now going to be totally different to what it has been, no rapid expansion (ryanair and easy will be halting their expansion after current deliveries) I cant see where the glut of new positions is going to come from. Worst case I forsee is the likes of OAA/CTC et al getting a real strangle hold on all new FO positions whereby you must go or have been through them to get in to anywhere, yet paying even more money for TR and contract work because that way it will keep OAA and the likes alive.
For god sakes, finish your degree and get a plan B. I have mine. Don't get into a penny debt trying to get in this cess pool of a career (unless it is for a 100% in the bank job at the end of a TR, not contracting! Then I would be willing to take a loan)