5 Facts About For-Profit Film Schools You Should Know
Posted on July 1, 2011 in Filmmaking 360 | 3 Comments
It’s summer time and lots of new graduates may be thinking about film school. They may also be thinking they shouldn’t have procrastinated filling out those admissions papers to that State College. But hey, those for-profit schools let you sign up anytime. Well before you sign on those dotted lines you should know some facts.
With 317,000 waiters and waitresses having college degrees, you may be asking what’s the value of any such degree, public or for-profit.
We can debate the value of film schools as a whole another time. The purpose of this article is to let aspiring filmmakers know a few facts before they make a decision that can affect the rest of their life.
I also want to be clear this isn’t an attempt to persuade anyone not to attend for-profit schools. Everyone’s situation is different. I just want to give a few facts so you can go in with your eyes open and your expectations in balance.
1. They are generally much more expensive.
In August 2010, the Government Accountability Office found that in 14 out of 15 times, the tuition at a for-profit school was more expensive than its public counterpart, and 11 out of 15 times, it was more expensive than the private counterpart. Examples of the disparity in full tuition per program include:
- $14,000 for a certificate at the for-profit institution, whereas the same certificate cost $500 at a public college;
- $38,000 for an Associate’s at the for-profit institution, when the comparable program at the public college cost $5,000;
- $61,000 for a Bachelor’s at the for-profit institution, compared to $36,000 for the same degree at the public college.
- There is no time limit on suing to collect on federal student loans, and the borrower can be sued indefinitely.
- Your entire loan balance will be due in full, immediately.
- It is very difficult to eliminate your student loan debt via bankruptcy.
- Collection fees can be added to your outstanding balance.
- Up to 15% of your paychecks can be taken.
- Your Social Security, disability income, and state and federal tax refunds can be seized.
- You will lose eligibility for federal aid, including Pell grants.
- You will lose deferment or forbearance options.
- Outstanding fees and unpaid interest can be capitalized (added) onto your principal balance.
- You may be denied credit cards, car or home loans, or apartment leases.
- Your interest rate may rise on existing loans and credit cards.
- Banks may refuse to allow you to open a checking account.
- You may have to pay more for car or home insurance.
- You may be unable to obtain or renew a professional license.
- You may be denied a job due to poor credit.
- New York Film Academy
- School of Visual Arts
- School of the Art Institute of Chicago
- Columbia College Hollywood
The two-year program Bushnell is halfway through has a cost of $52,000, which includes the Macbook Pro she uses in the coffee shop serving as her classroom for the day.
2. Student Loan default rates are much higher.
Americans have accumulated well over $900 billion in student loan debt. That figure is higher than the total amount of credit card debt in the United States.
Students at for-profit institutions represent only 9% of all college students, but receive roughly 25% of all Federal Pell Grants and loans, and are responsible for 44% of all student loan defaults.
Defaulting on a loan can adversely affect credit for many years. Default occurs when a loan receives no payment for 270 days. The loan leaves repayment status and is due in full when the lender requests.
Consequences of defaulting on a student loan:
3. For-Profit Schools spend more money on marketing than education.
In 2008 the largest of the for-profit schools (University of Phoenix) spent $130 million on advertising. That is more than many of the largest companies in America including Tide, Revlon and FedEx.
Watch the full episode. See more FRONTLINE.
New York Times | Troubles Grow for a University Built on Profits
4. Most for-profit schools do not have regional accreditation.
Many for-profit institutions of higher education have national accreditation rather than regional accreditation. Regionally accredited schools are predominantly academically oriented, non-profit institutions. Nationally accredited schools are predominantly for-profit and offer vocational, career, or technical programs. Many regionally accredited schools will not accept transfer credits earned at a nationally accredited school. So if you should start off at a for profit school, should you ever decide to switch to a public university, your credits will probably not be transferable.
Accrediting Commission of Career Schools and Colleges (ACCSC):
National Association of Schools of Art and Design (NASAD):
The Accrediting Council for Independent Colleges and Schools (ACICS):
Watch the full episode. See more FRONTLINE.
5. Employers don’t value them as they do traditional degrees.
This fact is slightly more subjective, but anyone in the industry can tell you, a degree from UCLA or NYU is going to open a lot more doors than a degree from Full Sail or the New York Film Academy.
Hollywood Reporter | Class Action Lawsuit Claims Film School Overstates Job Opportunities
OK, that last video was a little harsh. :)
3 Comments
Those were the reasons I was afraid to even apply to Columbia College Hollywood (especially tuition), luckily AAU is a great school, one where I can get a Bachelor’s or a Master’s.
I still think it’s up to the student. If after hearing all these facts they still want to go to a film school, then more power to them.
People simply have to figure out if it’s really what they need. Most people could go into film and work their way up or find some kind of workshop and then get into film or even do their own films. Making the wrong move costs you a lot with films chools.
I say if you’re going to spend 100K and spend 4 years learning filmmaking, FIND AN ACCOMPLISHED FILMMAKER (not necessarily a “big shot” but someone who’s actually done something and had a few key festival placements maybe) and offer 25-30K to chug around with him/her (and assist in any and every way) on his/her next project. Do that every year for four or five years. You’ll be WAY ASS ahead of the game. Win-win for everybody.