Originally Posted by JohnBurke

There isn't a shortage; there never has been.

Regionals have long paid sub-poverty wages to those willing to prostitute themselves for the hours. Typically those were wet-behind-ears kids who'd do whatever the needed to to get into a jet, which included very low pay. With a change to slightly higher requirements, a lull in those at the 250 hour mark vs. those with ATP minimums has lead to fewer available pilots as they work toward their ATP minimums outside the regional veil.

The issue of a degree is irrelevant at the early entry-level stages of aviation; regional airlines have always been an entry-level job.