Some universities in Australia allow you to do combined Arts or even double degrees - but these arent for people keen on getting some serious practice time in .
In fact most tertiary degrees in general are getting more and more shy of really practical work - look at whats happened in Canberra at ANU - there is constant pressure to cut back on instrumental lessons etc - and to replace experienced performance and teaching staff with academics who have doctorates but have never played a gig. The networking experience will always be the biggest draw card - the chance to play and be around your peers. And you can learn some interesting stuff along the way - strategies for improving your musical literacy and your ear to name just a couple of things.
Where I teach we have fought very very hard to retain and actually expand our practical course subjects in the face of huge pressure from the University - which would happily see the end of lessons, ensembles and concert classes in favour of lectures and the odd tutorial -because they are cheaper to run and easier to assess.
If you go down the tertiary study road choose your course carefully - if you really want to use the experience to become a better player that is...but also get out and play - jam and find some gigs.
"We were making music before language"