There are rumours about restarting however I would advise if you are at all capable of gaining a good degree to go for the university route first.
Reason - the majority of those that BA have been taking in the recent past have not only had degrees but very often IT/business experience post-school or post-degree level. Additionally you stand in a good position in later life if you are made redundant or lose your medical. Put it this way - if those in front of you have just as much interest in flying but also a degree and proven track record of passing exams, who would you take?
Sure, go for it if you are able to when you get around to it, but make sure that you have a solid backup plan in motion and that you don't mince about gaining hours here and there. A driven person is what they want to see.
http://www.britishairwaysjobs.co.uk/...spts/index.jsp
Note on eligibility: Assuming you come out of university at 21 and try in that year, you actually have 6 attempts at BA. If you don't get it after 3 then perhaps it isn't for you.
Don't believe the rubbish about student debts - budget and work in holidays and you'll be fine. You have taken from you 9% of post-tax income above a threshold, so there is no need to desperately pay it off. If you are borrowing on credit cards at uni then yes you will, but that is a silly route to take. Take it from someone who has been to university instead of the hearsay.