MattDell
1) Call CAE Oxford or L3 and they will clarify academic stuff. A university degree nonetheless should be fine. There's more emphasis on the PILAPT test rather than education in my opinion.
2) Age should not be a problem.
3) This course is AB-Initio which means that anyone with or without any flying experience can apply. It is up to you whether you want to complete it or not, and may provide a slight edge against other candidates who apply.