Look just doing the commercial flying part of the course will not give you a degree.
The ATPL syllabus is at age 16 exam level. There is no academic content to it.
The degree course will have the flying and ATPL theory side of things as part of a larger degree content. So there will be no way a modular student will be able to get on the program.
All you are really playing with is loan availability and payback conditions for a portion of the money. If you don't have access to a further 40-50k the situation really doesn't change.