Obviously all of this depends on the kind of person you are, so all of this may be irrelevant.
Honestly, I regret doing a non-academic degree. I didn't do film because I've wanted to be a famous director all my life, I did it because I enjoyed it and I had relevant A-Levels (photography, graphics and computing).
Now though most of the jobs I'm applying for have nothing to do with film or media - recruitment, project management, administration, co-ordination etc etc. And those jobs that are media related - BBC, C4, independents and small media studios - don't really care I have a degree and they'd want me to start at the bottom anyway (ie. runner) or have a decent amount of professional experience (which obv. I don't have as I went to uni instead of working).
And for those jobs that aren't media related a degree in film isn't respected at all - it's irrelivant, a doss and they can't see the skills you'd carry across (even though these aren't the case).
This is all me though - I'm strong academically (and creatively) and hence why I have these opinions and why I'm applying for non-media based jobs.
If film IS your thing, you're probably better of spending 6 months gathering together money to buy equipment and shooting shorts, then get a job as a runner and work your way up the same but be 2 years ahead. You could even spend half what you would on uni fees and do a year long fastrack course in America or something. Either way 3 years down the line you'll have no debt, more money and actual experience.
But at the same time university isn't all just about learning - you'll meet like minded people, make friends for life and more importantly grow up. This is what I spent my fees on! And off the back of it I've set up a wedding videography company which at the least is a very nice extra earner (in 3 months we've almost covered our initial startup cost of £10,000, been nominated for a national award and are recruiting an editor). Still, it's not enough to be a fulltime wage.
Sorry to be so negative but maybe you knew what I'm trying to say anyway - a degree in science or the arts from Oxbridge is going to be respected by everyone everywhere, whereas a degree in film from Used-to-be-a-polytechnic-15-years-ago doesn't stand you in such great stead (from my experience).