I totally agree with the above post with regards the current situation and particularly for sponsorships. However, just a point in case you say the same things in your interview - bear in mind that the person interviewing you may well not have a degree. Saying things about working under pressure, meeting deadlines, etc. only happens in Uni, er, I think you will find that there are many, many jobs where you would be under far more pressure than at Uni. Uni can be a doss, depending on what course you do which is probably why, if they require a degree, they specify that it has to be a good degree of the Science or Engineering type. Many people do good things with their time without having gone to Uni. This can be more relevant in some cases than going to Uni. Especially things like gap years - if you have done something good with a gap year it can show lots of excellent qualities such as motivation, self sufficiency, initiative, etc. This is why those who have studied via the self-improver/modular route are rarely biased against in interviews compared with CAP509ers. Its far easier to do a full time course and be lectured at than to get off your backside and put the effort in whilst also holding down a job.
Different people have different backgrounds and different skills. Pilots need to have a wide range of skills and are generally average at most things rather than being very good at just one thing.
The ATPL exams, well, having gone through Uni yes, you will know about the exam system but that is about it. It doesn't mean you are more able than someone without a degree, however, having a degree does obviously show that you can study for and pass exams. Having a degree doesn't mean you will be a good pilot.