Hey Aviator_89,
Whether you have a Degree or just GCSE's, It's always a risk investing in Pilot Training.
No one knows what the industry will be doing in 2-3 years time? However, from a personal point of view, follow your passion. If you can afford to put that sort of money into your career, do it. I certainly have and i'm keeping a positive frame of mind.
There is a vast amount of topics in this forums voicing the opinions of pilots and aspiring pilots; i suggest you give them a read and make up your mind from there. From your post i can only assume you have a good career set up in engineering and therefore I would suggest maybe modular is the better option?
Regards