Hardly good advice for a young person seeking a career choice. Do what you love, but be sensible and love something that there is a career in. A vague idea of 'photography' is not enough. The people who make it, really make it, the ones with vision who will weather the collapse of the photographic industry in this economy are very talented, very very good at business skills and very hungry. The employment figures for people out of photography schools in photography is appalling. You can't do what you love if it puts you in the gutter and I forsee from within the industry that only a few will have what it takes in the next decade to survive. A very very talented and lucky few.
If you want to make it in the photography industry as a life career, decide now what genre you want to specialise in, apprentice, do a business studies or marketing degree part time. In the fashion world if you haven't made it by 25 years old, made it big, you're going nowhere. Wedding photography as a full time career is hanging by a thread, an unwinding thread. Medical or police photography requires an MA in photography just to get in on the ladder and the latter is also dying as the equipment gets good enough to train regular officers to do the job. Architectural photography was always a very small niche. Studio photography is also dying as the quality requirements drop and the equipment becomes cheaper and much better. Landscape photography makes money for very few people, usually people who spend much more than they earn. Photojournalism, dying if not already dead. Music photography is as alive as the budgets of the bands and there are very few who can pay enough to support a full time career (my partner works in the music industry)
I can only predict the coming decade, not the decade after which I assume will be even worse. The big guys are saying that students should learn video not photo for their future careers. I can see what they mean. My mentor is a 56 year old PJ, his work is published every week in two of the biggest UK daily newspapers and he's now looking for workshops and buying a video DSLR, oh he's also looking for another job..
There was a big high tech crash here when the dot com bubble burst. I was in Uni at the time doing computer science. I was about to take out some loans to see me through as the money had run out. I asked myself, when the crash is over, who are the companies going to employ, me. a raw rookie or the people they laid off with 20 years experience. I didn't take the loans, left Uni and took a job as manager of a photo lab which took me to where I am today. I was right but with a difference, they didn't hire anyone when the crash ended, they made the people who stayed work much harder for less pay. There were those who left with that degree and made it big, the super talented with most importantly a vision and the business acumen to have it realised. Oh and let's be honest, the financial backing.
Same in photography, heck of a lot of very talented people out there quitting now. The young people with a vision will replace them but 10 years from now the industry will be much much smaller and far more specialised.
Do what you love but if you loved horses in 1935 then there were only so many jobs left and far too many people who wanted them.
If you love photography then do photography but study art or business so you have a wider field to your knowledge base and skill set should photography not work out or should it turn, as it is already, into something rather different.