I think I am going to sound like a grumpy old man in this post, so please excuse me now.
The topic of whether to go to University or not has been covered extensively on Pprune - use the search function!!!.
Does having a degree help to get you on the CTC Wings scheme - which after all is the topic of conversation - then the answer is not necessarily.
It is true that the majority of CTC cadets have at least an undergraduate degree and the average age is over 20. Look at the CTC website and it clearly states what the academic qualifications required are, and a degree is not essential.
Aptitude to be a pilot is important, regardless of whether you have a PhD in Nuclear Physics or left school with the lowest required A levels. Can you guess what CTC do? - yup - they test aptitude. This apparently is the stage with the highest rejection rate - so you can guarantee that quite a few graduate and non graduates have been told adios, thank you for applying but we will not be taking your application further.
So you have met the required aptitude level, so what are the important factors that CTC believe that an airline pilot should have. I very much doubt that the word degree is first on the list here.
So, have a think.... Team work is that important? Well CTC test you on it, it says so on the website. Motivation - says it is important on the website too. So what else could they ask me about in an interview?. Not really the hardest question to answer is it - Why do you want to be an airline pilot, a bit about general life experiences, knowledge of the airline industry, decision making etc etc, give an example of when you worked in a team - it says on the website that team work is important and so on.
If you didn't go to University, would you expect a question - Why didn't you want to go to University. If you did go to University perhaps - Did you enjoy University and what did you gain from the experience - blah de blah. Why do you want to be an airline pilot despite having a degree in Flower arranging?
One of the fascinating things about life is that everyone is different. Everyone has had different life experiences and has made different choices. Ultimately a selection team will decide yay or nay and you can bet that they have considerable experience in finding and knowing what they are looking for.