The above seems to hit the nail right on the head.
Though if i had my time again i might consider not doing an undergrad!.
Instead spend the money on ratings, work as an instructor etc....work your way into a regional after some 3-4 years (we hope the industry will be doing a little better by then). Now not only will you be were you want to be but you've actually done 2 years or so of uni without even knowing it. With 4 years (approx 2000hrs flyin) of magical industry experience you may find that many aviation degree programs will give you many exemptions/credit (upto a couple years worth) or even let you jump straight into a 2 year masters program!. You can then do this part time whilst edging closer to the left seat of your CRJ!.
Too easy, politicians and such get honorary doctorates every so often, its a similar process. At the uni i went to a senior 747 capt was given his doctorate, then a professorship, without attending a single lecture (of course he had an equivalent bucket load of knowledge and many achievements). I know the airlines want a 4 year degree but how can they complain with a 2 year postgrad!.
Time spent learning isnt a waste, nor is time spent in the industry. Remember, your never to old to go to college and learn.
More importantly i'd say with a bit of life exposure in your mid 20's you'll be more sauve and comfortable round the ladies, put an individual like this in amongst 18yr olds and he'll have a field day. You'll appreciate the young things a whole lot more too!.
All this being said it might be easier when your younger though, for instance as you get long in the tooth your olds might not foot the bill.
cheers and beers.