The value of a degree seems to diminishing these days with many of the opinion that they're not worth the paper they're written on unless its from a good University.
As an insurance to be used as a back up to flying there may be some merit in it. What subject/vocation did you have in mind?
There's not much you can do with an ATPL except perhaps become a ground instructor but the salary is not great and better for those who have a pension to supplement their income.