I was in a similar position around 4 years ago, i had 8 GCSEs and that was it. I applied to the CTC scheme online and they were pretty sure that i was a no-hope case... I was gutted when i got the email basically telling me that i would never be suitable to be a commercial pilot..
I applied to Air Atlantique for the full sponsorship (which i personally think is worth more than any FTE or CTC deal you can get as it is actually a sponsorship!) and got it. When i was going through selection, i was up against university graduates, people with military backgrounds and all were way more qualified than myself..
I still got it, I still passed my ATPLs with a decent average and I have been flying for the company for near two years.
Some people have no qualifications because they can't achieve them, some of us dont have them because of past situations.. I agree that having qualifications wont do any harm, but i wouldnt let anyone tell you that you cant achieve your dream because its down to you..