A Degree is 3 years of attending lectures, studying in the library every now and then, drinking beer in the student bar at least one long session per day, unsuccessfully chatting up the opposite sex, night-clubbing and the odd all-nighter essay writing marathon.
That said, it's still more work overall than the ATPL, which can be done fairly easily in 6 months if you do it full time. You don't even have to understand what you're studying provided you learn the Question Bank! Mind you, those 6 months are tough!
Therefore, I'm not surprised it's not recognised as a Higher Education Qualification.
