I'm a big fan of education. I like the idea of having a backup if you lose your medical. I have an MBA for that reason exactly. You also might get one extra point on your airline app. It certainly won't hurt you.

However, in the current hiring environment (next 10 years), I just don't think it's a worthwhile investment to spend all the time and several thousand dollars on an online masters in something like "Aviation Management Whatever". If you're starting from scratch, it will take you several years to finish this degree and I think that you'd be hired by then if you have all the right aviation credentials/experience.

If you have a desire for knowledge and genuine interest in adding a degree, go for it!