just maybe enough to tip the balance on the selection
If you had spent the years you were studying at uni actually flying then you wouldn't need to tip the balance.
For example, If two Wannabees both start at the same time:
W1: Flying School
W2: UNI
1st year
W1: 150hrs CPL+ CMEIR
W2: 0hrs, 1 year UNI
2nd Year
W1: 600hrs
W2: 0hrs, 2 Years Uni
3rd Year
W1: 1000hrs, 400Twin
W2: 150hrs CPL+ CMEIR + 3yrs UNI
So at the start of Year 4 both pilots go for the same job and...
W1: 1000hrs, 400Twin
W2: 150hrs, BAvi
The degree is only then useful if you are going head to head with a pilot fresh out of flying school with no degree.