A friend of mine who recently made captain at Expressjet has two masters degrees in engineering. He progressed rapidly in his flying career, having upgraded to CA from a brand new recruit in just two years. I attribute his success more to his being self-disciplined rather than having the degrees, but they will be of use when he makes the move to a major. It doesn't matter what a pilots academic background is, only that it exists. The degrees will give him an edge over someone without a masters. Get a degree in something you could use to open doors in a completely different field should the bottom ever drop out of your flying career. I obtained an aerospace degree that has been surprisingly useful despite my originally having no intention of using it.