Film School Finances

[sa]

Hi guys. I'm starting this thread for people who want to let off steam or shed some light on the cost of film school.

I've been figuring out my budgets and found this federal loan calculator online, which I found very helpful. You can type in your expected loan amounts and get an idea of what your monthly payment might be.

http://www.finaid.org/calculators/scripts/loanpayments.cgi

I've been accepted to USC, UCLA, Columbia and Austin and am on the NYU waitlist. I've taken it for granted that I would just choose one, but looking at the costs, the decision is much harder...Scholarship applications, here I come.

 

[Winterreverie]

Seriously... and most of the fellowships are itty bitty compared to the actual costs.

Where is all the money for Grad students????

oh, that's right, there isn't any.

I will be taking out a nasty $30,000 loan most likely-- especially since most schools do NOT want you working.

I guess film school is for the independantly wealthy.

Too bad I'm short on mommy and daddy money.

 

[Jayimess]

sa, don't let money impact your decision too much. Go with your gut.

I'm maxing out on loans...46K. I don't want any worries at all so far from home, and my parents are long dead...and they died poor.

 

[sa]

Hey ladies,

Yeah, I know that money shouldn't matter, but if I go to Columbia I'm looking at 60,000 in loans the first year with a projection of coming out with 196,000 in loans! UCLA, which is the cheapest school I'm looking at, I would come out with 120,000-140,000, which is still huge. To a degree, I think these schools prey on our dreams, and I've started to get really upset about the cost of the education. Of course I still want to do it, but I'm considering not going and reapplying next year with the hopes of scholarship. Of course, who knows if I'll get in at all...

 

[BillyD]

It IS ridiculous. Truly. It irks me thinking about it, too. But, at this point in my life, I'm ready to bite the bullet on this one. I'm going all in by myself, as well. Mainly paying with loans and hopefully a smattering of small scholarships. I also get a break with veteran's benefits, but that barely makes a dent in tuition...

After graduation, there's no doubt that I'll be deep in debt.

 

[sa]

There are so many of us out there who will be in deep debt. I'm going to have to pay around a thousand dollars a month when I get out, and I just don't know how I'm going to do it.

 

[Winterreverie]

My best friend is going to medical school. She's paying Nearly $40,000 a semester.

Her intent to register was $5,000 and she's not even going to a top medical school.

I think there is a reason that professional schools are tight fisted-- they expect you to make money when you leave.

Its a little different with film--- there's less of a guaranteed return.

I'm terrified of the money issue just now. Even with a fellowship.

 

[politicsofecstacy]

I think there is a reason that professional schools are tight fisted-- they expect you to make money when you leave.

Its a little different with film--- there's less of a guaranteed return.

Exactly. MUCH MUCH less. That's what's so scary about it to me. And if you do get that return, it could be YEARS before it happens. Maybe I'm being too dramatic.

But I guess you just have to look at it like this. If I can make films for the rest of my life, I think I can be happy. If I can eventually do it and not starve, thats just an added perk.

 

[Jayimess]

Well said.

Don't forget, y'all, we can always teach at the university level, if we can't sell anything once we get out of grad school.

It will be good for that, no matter what...a semi-fulfilling (to me anyway) back-up plan.

Teaching beats my family's Law School/MBA ideas any day.

 

[sa]

This is true...we can teach. But don't we have to be successful artists/directors/screenwriters to get those jobs anyway?

By the way, I don't think you're being too dramatic. I think it's good to think these things through. Even if I end up choosing the most expensive school, I want to know that I was thorough in my choice and that I considered money etc. Too many schools and loan lenders don't care how we pay, so it's just up to us to understand and make informed decisions.