IJ
I did an Aeronautical Engineering degree at Imperial College, London. Must say that alot of it is irrelevant to flying an aircraft but when it comes to theory such as aerodynamics/principles of flight etc it makes what many people think is tricky look really basic when it comes to sitting the JAR's. However is it worth wasting 4 years to get this knowledge. I believe so, it does look pretty good on a CV and of course if something happens to the airline industry or you lose your medical it does give you something to fall back on. Be warned that this subject is extremely difficult and the drop out rates are very high.
Good Luck