Definitely. I instructed this last year at MTSU and graduated this May. I couldn't work with as many students, but I was able to earn some money build some time and get some instructing experience before doing it full-time. Now, I stay busy, and don't feel overwhelmed with procedures, teaching, requirements, not including school work if your still a student. CFII is a huge advantage to getting on now since all of our primary students are doing a combined PPL/IR syllabus.

Check out Delta Connection Academy, they need instructors. The nice thing about DCA is that all the training is geared toward the airlines. The FSM's are tailored after airline manuals. Strong emphasis on CRM and checklists. They are also replacing their Cessna fleet with glass equipped Cirrus aircraft. Instructors also get flight benefits on Delta Airlines.

As for the University vs. FBO I went to a University and am working at a local FBO and loving it. Go somewhere that makes you happy.