Hi Jimbo,
It really depends on what you actually study at University. At the end of the day (as far as I am aware) the fact you have a degree is simply a piece of paper saying you can complete a degree course to the required standard and is of little advantage at the interview stage for airlines.
It may help your training if you undertake a physics or maths related degree subject to get your head around some of the ATPL modules when you come to them. You can also sign up for the University Air Squadron and get some free flying in and have a great time doing it.
Not sure if this directly answers your question but good luck. One last point, I think the best advantage of doing the degree is that it gives you more experience of living (horrible, horrible cliche I know) which looks good on the application form and provides you with a good fall back if the flight training does not go according to plan. Always have a backup plan!
PilotOnline