Not really. It basically counts as an extracurricular activity. Many civilian colleges with aviation programs will allow you to count at least one rating towards your degree, but at USAFA you can't even validate aviation classes with it because they want to teach you to fly their way. A lot of (aviation) things are done differently in the military/AF.
It's another great line in the resume for your application but the real assist is the hours it will add to your total for possible pilot selection. There are three scored areas as I understand it (I'm sure corrections will be rapidly forthcoming if I am not). Pilot elements of the AFOQT, the TBAS and then any logged flight hours. 60+ hours gets you maximum points for that final section. Additionally, to be on the USAFA Flying Team you have to have your PPL prior to getting to USAFA so that opens up several opportunities for you when you get there. Good luck.