I can only partially agree with you canuck51. If all you ever want from aviation is to be a line pilot, then you're right in saying a degree offers little advantage. However, if a pilot ever wanted to get into the management and/or training side of the house for an outfit larger than, say a moderate sized turbo-prop operator, then a degree certainly helps.
Also, a degree in Aviation is simply a title. It really depends on what you major or minor in. A degree in Aviation Safety can set a pilot up really nice for SMS work at an airline. A degree in Aviation Crash Investigation opens the door as far as it can go for anyone thinking about TSB or TC. A degree in Aviation Management - Chief Pilot or better.
So yes, while an aviation degree may not do anything for the line pilot, it certainly helps keep you in the industry doing a million of the other things that are just as important should anything ever happen.