Are there any differences in pay for travel nurses based on their educational background?

No but there should be along with experience… especially when you end up training and practically doing the work of even the new travelers with minimal experience.

Yes, often there are differences in pay related to educational background. As you look online for open positions you will find that applicants with a Bachelors' degree or higher will often be offered more, BUT, I have also found that most employers were very interested in experience. Also, for interim management roles (DON, ADON,etc.) most employers require a BSN degree at minimum. Another consideration would be the compensation they offer for lodging, meals, car rental, airfare, etc. Some companies offer per diem pay while others cover these expenses.