I failed my first year year of college, so, I had to delay going to university, and I can tell you, there's no shame in it. You don't need to reach university by a certain age. I'm nearly 20 and about to start my first year of university, myself, so, don't worry. What I think is most important is to do what you want to do. If you enjoy English and Psychology, then take them. I wouldn't take them just because you're good at it, though. Make sure its a genuine interest. I would reccomend researching a bit of psychology in your own time, to make sure it is definately what you want to do (some schools do offer it for GCSE, but they're few and far between).

I took English lang and lit A levels and came out with a C overall and I'd say its one of the best courses I took because (rather surprisingly in today's education) it actually encourages new ideas. So long as you can back up a point, no matter how outlandish it may seem, you'll get a mark for it.

Ultimately, I'd go with your gut feeling, retake college and make sure you're doing something you want to do. Finally, don't focus too much on employability within your chosen subjects. My uncle holds a degree, yet works in a supermarket, and he's happy with his life.