How bad is Diploma in compare to Degree?

Hey!

Sorry for asking something related to careers/salary while such shit is going around, but I need this info for outlining my future

So, is there any sense of pursuing college diploma for aerospace engineering(program which is sponsored by CAF) in compare to simply finish BMQ and pursue private's career?

I don't mind to do any: common private soldier/military avionic engineer. However, I know if I would finish university - path to officer is open, career for privates is clear(in terms of career progression), but what about those who finish college?

I know that after finishing diploma, enrolment to second-third year of university is possible, but let's omit that fact for a sake of discussion