Callum, your posts remind me so much of me eight years ago. I was in a very similar position and initially I chose the integrated route at one of the big FTOs. Admittedly I wasn't on a course that was attached to any individual airline, but about three months in I switched to modular and I never looked back.
You seem to be a very switched on young man, you know what you want and I applaud you for that. I was the same as you, I decided that university wasn't for me, and I still stand by that decision. Only you can make that choice, and it sounds as though flying has been your ambition since you were very young and it's all you want to do. If that is the case, then I would say go for it. Don't do the uni thing. However, I would very seriously look at going down the modular route. So much can change in the 18 months while you're on the course. In your case you are looking at the possibility of not finishing training until 2014 if you start in July next year. I promise you that so much will change in this industry in the three years until you finish. I'm sure the training contract will be written in such as way that it is heavily weighed in easyJets favour. Growth is slowing dramatically at easyJet now, and their crewing needs will change dramatically in the next three years. That's not to say that they won't make good on their promise of a job, but what if they don't? You'll be stuck with a disproportionate amount of debt and no job.
Let me put another option to you. From what you have stated on here, you have saved around £40,000 for your training? That is excellent! You are already in a brilliant position, much more advantageous than most others who are thinking of training. Kudos to you for having the commitment and foresight to save so diligently. It shows a great deal of integrity that backs your stated desire to be a pilot above anything else. That £40,000 could get you the same little blue book that many guys pay well over £100,000 for. It might not cover the whole thing, but even to go to the very best schools you'd probably only be looking at paying an extra £10,000. You could even still study with OAA.
Let me break it down for you.
PPL - £6,000
ATPL Written Exams - £3,000
Hours building - £8,000 (either in the USA or there are many very affordable options now available in the UK)
Commercial - £5,000
Multi engine rating - £3,000
Instrument rating - £14,000
MCC - £3,000
Fees, exam payments etc - £3,000
Total cost - £45,000
I've been very generous with the costs above, you could in fact do it all for quite a bit less. When I trained I spent about £38,000 in total.
Now, I know the biggest factor in all of this is the job at the end. But having spent £45,000, you will have little to no debt. With the level of maturity and intelligence you are displaying on here, I don't think you'd have a big problem getting a job flying something, somewhere. It might not be a shiny jet straight away, but what so many people miss out on is the real fun of the journey getting to that jet. Even if a big jet is all you really want, then there is still Ryanair, which, while there being no guarantee you will get an interview, is a very real option. If you end up having to self fund a type rating somewhere you will probably be looking at an other £30,000 in addition to the £45,000 you've already spent, giving you a total of £75,000 for the whole thing.
I have never regretted my decision to quit integrated and go modular. I networked a hell of a lot and 2 days after finishing my MCC, I started with a turboprop operator in the right hand seat. The market changed, I got made redundant six months later and ended up moving overseas and flying the same aircraft type for another airline. Just yesterday I got the phone call from one of the world's major airlines offering me a job in the right hand seat of a jet starting on June 6th. It's been on hell of a journey so far, it really has had a lot of ups and downs, sometimes it's been hell, but I would do it all again.
I hope you'll give what I've said some thought. You really do remind me a lot of myself when I was 17. I still love what I'm doing because I've still got that passion to fly. Don't let people get you down, but do make the right choices. They may not always be the most straight forward or easiest routes to choose, but good decisions always end up paying off.
Good luck and if you need any more help or advice, please feel free to drop me a PM. I owe this industry a lot, and I'd like to give something back.