It depends really.
Some colleges such as Oxford, Cabair and BAE in Jerez (to a certain extent) have close ties with various airlines, and pilots who graduate from these institutions could be seen to have an advantage over other students.
Its quite difficult for anyone to give advice on studying to become a pilot at this time because, what with the current 'situation'. But if you are considering the modular route, then by the time you have your CPL/IR then there may be a flood of airlines desperate to snap you up. The other extreme is also possible. However, its most likely that in 2-3 years time there will be some demand for self-sponsored modular candidates, and in that instance candidates from the likes of Oxford would have the upper hand.
This situation of elitism that the industry is in is exactly why the likes of Multiflight, Bristol and Airmed are trying to under-cut the price of training at the more 'elite' colleges.
I'd say that you should make your decisions based on what is convenient to you, especially in the stages of your PPL.
Good luck,
John