Google claims there is no particular benefit to an .edu link versus, say, a .com, though there are certainly plenty of SEOs who disagree and say that's just more propaganda designed to diminish manipulative activity on the part of webmasters. But I tend to agree there's no more value (see this Matt Cutts video: [video.google.com...]
That said, I think your real question is whether or not a link from that page is of value. The answer is definitively, yes, *if* the page is indexed. Toolbar PageRank is an outdated metric and terrifically unreliable, so a page may have more PR value than is reflected by the toolbar. Bottom line: is the page cached? If it is, chances are good that you are getting SEO value.