Hey Richard,
Regarding sponsorship for your PPL, try the Air League...they always have some to offer.
Depending on the weather, you could probably complete a PPL course in the summer prior to starting your degree - that's what I did. Once you start the degree, you simply will not have the time - trust me, Aeronautical Engineering involves a lot of work (I'm in the 3rd year of it now).
Once you have a PPL, you will need to do at least 12 hours every TWO years to keep the rating valid. However, these 12 hours must be done in the 2nd year of it. Additionally, the flying school will probably require you to do some kind of checkout if you haven't been flying in a long time. Since I started my degree, I have only just managed to get the 12 hours in - because of lack of time and lack of money - something you will also have to take into account unless you join the UAS.
Hope this answers your questions
P.S. How come the course is 5 years when it's an MEng? Normally 4??
Jason