ATP is very expensive but probably one of the quickest options to get everything done as fast as possible. There are other flight schools that are considerably cheaper, but less structured. Also, ATP is a pilot mill. There only goal is to get 1500 hours and go to a regional, which means the instructors there typically are not that enthusiastic or passionate about instructing. So the quality of the instruction varies greatly and it's a huge bummer to pay 75k for subpar training.

As for the 4 year degree - Personally, I'd just focus on the ratings and get a seniority number at a regional before worrying about the degree. Hiring is going to start ramping up in the next few years with the retirements and he's going to want to be in the action. Once happily sitting reserve at a prestigious regional carrier, he can bang out an online degree in whatever management on his laptop while waiting for crew support to call him for a Buffalo turn. This will be faster and cheaper because many online colleges will issue college credit for pilot ratings.

Best of luck in his endeavor. This is a great time to get in the industry.