I'm too still jung and I'm only 1 year away of finishing my current school, so those thougths corssed my minde a few times too, just that I found a solution for them long ago.
Fist of all: What is it that you want to do? If you realy want to work on games, you don't care about you many k's you get the first year, because you make that what you like to do. And as long they pay enouth to get a Big Mc (just for example, you also can get a Mc Chicken) once in a while I would be fine. And as they sayed before: If you're right in the education and suddenly found out that you don't like game development you still could stop and fix motor cycles again, the education woun't kill you. (I always would choose the workshop with the diplomated mechanic ^.^)
And about the question about which direction you should take: ANY! I may sound now: 'know-it-all', but I've read too many articles/interviews about the education stuff to say different. The people will look at you diplome, yes, but it woun't get you the job, its also about the stuff you do beside school. So getting yourself a 'I'm awsome in Game Development' diplome woun't do the thing. You'll also have to spend time after school working on your games makeing them the best they can be. The same counts if you "only" get a IT diplome, it actually could be even better depending on the studion you're applying. A great Indy game, a mod, or just a huge pile of code you've writen in your garage could be wothier as a diplome, as long as is good enouth.
Also you may should think about the thing you like the most of makeing game and go for a diplome in that direction. A game development diplome dosn't open you all doors. If you like the programming take a programming class, if you like to draw models take a art class, and if you like to write phyisic engines take a physics class, they always need engineers.
Just think about what you want to do in futur (and I don't mean 'In want to become ... er ... something in game development ... thing', I mean 'I want to become Level Designer/3D Model Artist/Tools programmer/etc), thing of a path on how to achive it, and got straight for it. You can change you mind later, there are people who change their career with 50, it should not be that problem.
Hope that could help :)
Just a few links that you don't think that is only my mind:
http://www.sloperama.com/advice/route66.htm
http://www.sloperama.com/advice/lesson34.htm
Greg the Mad