it would certainly help.
I am a FO/JR Captain. I do not fly the big jets however smaller turbo props in the STOL operations of NEPAL. Though its a demanding job it does provide a lot of free time.
Regarding the aviation degree or any other degree it would be beneficial for sure. However, getting a degree in business administration or other fields would be a better idea. This would increase ones scope and also increase the value of the person I guess. An aviation degree would be only important in aviation sector. However, a business degree would be important in any industry including aviation.
Going to regular college would be impossible for sure. So I took an open university that is accredited by the government and the course is laid out well. The books are they to assist you plus the online material. And also if needed you can attend the classes but that is not mandatory. However, the exams has to be given at a center so not sure if that would be possible. But the yearly plan is given out so its easy to plan ahead.
Have to do proper time management and give enough time to your studies. Just couple of hours every week is good.
I am sure the degree would help and its always good to have more knowledge. Would help. That is my advise.