I went on a 2 year long Digital effects MA course and now I'm 6 months after graduation. I already have 9 months of work experience and am working at Foundry at the moment.
First year is full of exercises (3D modelling, motion capture, motion control and so on) - working on-set with the other departments (DPs, Art, etc) is one of the best things at NFTS because you get a sense of how the industry works.
Second year is where you specialize (3D, 2D or Colour Grading) and when you start to be more responsible of your actions. You don't have classes but rather work on Graduation Films (which everyone takes very seriously) and you become the adult artist that's ready to be soon employed.
The DFX course (but I'm sure others too but to relevant locations) includes trips to FMX in Stuttgart, BFX in Bournemouth. Also some practical effects, and blowing up a couple of things (more for reference).
I'm happy with my time at NFTS and I would do it again anytime. They were quite good at teaching though so I don't need to go back.
NFTS - Digital Effects
Extensive, practical training on set, in a vfx and animation studio and in cutting-edge digital post suites.