A very important consideration is one's gameplan if it all falls in a heap due medical, not getting that break into whatever flying avenue one's heart is set on, etc....
Be very investigative regarding what your degree might open for you.
I have colleagues who lecture in one aviation degree program and those who do that program will get a good grounding in many areas relevant to airline operations etc.
However, if one ends up out of flying, consider very seriously where one might go in such an event.
Vocational degrees, providing one has acquired some experience in the field while flying, may offer a better lifeline than an aviation degree. Specifically, I would suggest investigating law, commerce, economics, engineering (might be a bit difficult to get any useful part time work), medicine etc.
On the other hand, a trade is probably a whole lot more flexible and may be easier to get part time work to get some runs on the board. Trades may offer some flexibility for part time work in retirement if the superannuation didn't work out all that well.
A degree sets you apart as a professional and is pretty much a pre-requisite for a long term career at the airlines.
I think the other folk, above, have scotched such self-serving tripe as arrant nonsense. I can reflect on having read aero engineering - good fun, had a ball at uni with more than a few headaches, and it's provided me with a very interesting career and good money - but, in terms of absolute difficulty to get a bit of paper at the end of the study, the SCPL/ATPL exams were the harder sequence to run albeit they can be done in far less time and the output is far less rigorous in terms of knowledge skillset.
If your argument is that a degree impresses along the lines of demonstrating that one can study and pass exams, I suggest you think again. Me, I dips me lid to those who have slogged through ATPL subjects whilst working full time. Indeed, I spent some years lecturing in such things and I have nothing but admiration for some folk who, in spite of considerable odds, slogged through and ended up in their preferred lines of flying endeavour.