SWA asked, so I guess they cared. I'm assuming it was a positive thing to them (that I have a Masters that is), but who knows how much they actually weigh it.
Guess you have to ask yourself what else you would do with the time & money and do your own cost/benefit analysis. I was lucky, USAF paid for mine, and turns out I actually used it to pay the bills in between flying gigs once upon a time.
To echo others: Education is a good thing.