For that matter, a very small proportion of the population could handle a degree in aerospace Engineering (/flight mechanics / flight test); not all degrees are equal, any more than the level of flying ability needed to pass an fATPL and get in the right hand seat of a airliner equates to the standard needed to enter TPS or work as a TP.
I'd have thought however than any TP would be well equipped to
complete a Masters, whilst a fair proportion could probably teach much of it - so long as they had an FTE to help with the maths.
But, it's a different beast to TPS - inevitably, it's done in a different environment for different purposes.
G