As it happens I'm pretty much in the same boat. I'm halfway through my Honours year in Computer Game Applications Development - just five months to go! - and I'm increasingly uncertain whether I want to go into the industry at all at the end of it. Essentially, I see four ways forward (well, five, if you include unemployment, which I hope to hell it doesn't come to):
~ A full-time games industry job - which depends on a good degree, and also putting a convincing portfolio together. Unfortunately, experience has taught me that I'm a piss-poor programmer, and worse I have virtually no motivation to improve. Also, this semester included a module called Game Professional Awareness, taught by an ex-Realtime Worlds employee whose sole purpose now seems to be advocating the games industry as the single worst place on this or any other planet. Horror stories abound of unpaid 80-hour working weeks, publishers pulling choke chains on developers' creativity and the resulting cycle of appealing to lowest common denominators (boobs and/or guns), mass layoffs immediately after projects finish, relentless cloning and piracy issues, the Dilbert Principle... plus the fact there isn't a single trade union for game developers. Anywhere.
~ An MProf (Masters) in Game Development - if I get a First or Upper Second degree this year. Also, if I have any interest in games, which is nebulous at best just now. Would also require a summer job to get a little more money saved up.
~ An MLitt (Masters) in Creative Writing - again, requires a First or Upper Second this year, as well as passing an interview at the "other" uni in Dundee. This sounds more my thing, in theory, but doesn't seem to have as promising a career path. Also requires extra money, as above.
~ A non-industry job - stacking supermarket shelves full-time would hardly be ideal, but it might be the break I need to revisit the options above. (Starting my own game studio *might* count as non-industry, but even then I'd undoubtedly need to save up the investment or receive a grant from the Prototype Fund, which at this rate I'll never get.)
"Little bug, little bug... I might mistake you for a grain and put you in my cereal..."
Princess Agitha, LOZ: Twilight Princess
J'écris, donc je suis