Sorry I haven't had time to read this full thread, but I'm finishing up Aeronautical Engineering (Aeronautics and Astronautics) at Purdue University this coming December. It's a very challenging program, but I've been interning with Boeing (BCA - 787 program) since 2009, I'm going back this summer, and I have a full-time offer for after I graduate. As someone said above, a degree in Aeronautical Engineering from a reputable school is definitely worth the tuition. Average starting salary for someone with a bachelor's degree in Aeronautical Engineering is somewhere in the neighborhood of $55-60,000.
I originally started out in Air Force ROTC as well, but that didn't work out for me due to a hearing impairment.
Purdue's program grants a diploma in "Aeronautics and Astronautics" but students choose a focus. The differences are:
Aerospace Engineering typically deals with spaceflight, orbital mechanics, rocket propulsion, etc.
Aeronautical Engineering deals with atmospheric flight, airplane design, jet propulsion, more aerodynamics, etc.
In addition, they'll both require a lot of physics, high level maths, some programming, some CAD (computer aided design), and whatever general electives the school requires. It's going to be a lot of work and doesn't really leave time for partying, but it definitely pays off.
By the by, at Boeing I've seen dozens of my classmates from Purdue, but only a handful from ERAU. I don't think ERAU is worth the money they charge for any program. I don't know what the schools are like out east, but Penn State and Virginia Tech also have very good AAE programs.