Don't give up on flying if it is truly what you want to do. If you can get the 3rd class medical with the waiver you can at least meet the requirements to get through the ratings (including solo cross countries). You can still fly with an instructor and instruct if the student logs PIC (so any students other than primary).
I'm a well paid engineer and wish I went straight into flying. Try to get the waiver and as plan B think about starting a flight school and/or still flying with the above restrictions if it is truly what you want to do.
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