Rachael is right.
When I first got to Chapman, I scoffed when they said you wont have time for a full time job. After 2 weeks in, I realized they are soooo right. It does suck to spend all your time in classes and not earning money, but that's how it is. Depending on how hard you want to get recognition among your peers, you can either have nearly every weekend off and be pretty much unknown or you can work your butt off and go into a 1 or 2 month working binge where you work every single day (including weekends.. which usually means 12hr day schedules or more since you'll be on set) and have everyone from 1st to 3rd years know who you are and how hard you work.
In response to dabbu:
1) check on a previous post I replied to. I think I gave an answer to that already
2) that is entirely up to you. There is no answer to that because you'll realize that the film industry is all about chances and/or connections. Some editors who aspire to become directors one day will never ever get to direct a film except at school and some will become Steven Spielbergs.
3) You have a chance, but you will have to really really really distinguish yourself. That means you have to show that you have directed alot of movies and they have to be really good. Then you might have a chance. Directing is possibly the most competitive of all the emphasis and chances are there wont be any directors leaving.
4) Do you mean academic fees? (strictly school or everything in general including cost of living?)
5) there are scholarship options but that, you'll have to look into more. Try talking to the office or emailing them.
I hope I can answer all your questions. My personal feelings are that there should be more sound designers out there since it is probably the most in-demand position here at chapman because of how little there are. Editing and Cine are both pretty well populated and I would say this straight up: Only take the emphasis you truly love. If you go in there thinking that it's just an easy emphasis, then get the hell out of there. I personally despise those who go into editing because "Well, I want to be X but since I didn't get in, I'll just take this even though I'm not interested at all." It is demeaning, ungrateful, and a waste of your money. Don't waste your time and money on something you don't care about especially if you're paying to go to grad school for it. Take the emphasis you truly believe you will appreciate and love, not dick around just because you didn't get what you want.
I know I sound extremely harsh, but it's for the good of everyone including yourself. After all, grad school is expensive, it's worthless to spend money on what you don't care about and end up putting minimal effort. Anyways, that is my 2 cents and I do hope I didn't confuse or discourage anyone.