"Financially hobbled for life" The high price of some film programs

[Chris W]

Some film programs such as Columbia and AFI are very expensive.

One of the professors mentioned still paying off Columbia university’s loans, and said something like “we paid Columbia prices so you don’t have to”. That really got me excited because I love Columbia’s program structure but no way could I afford it.

Yeah... That price tag is nuts. I mean the education sounds awesome but...Did you see this article?

‘Financially Hobbled for Life’: The Elite Master’s Degrees That Don’t Pay Off

Lured by the aura of degrees from top-flight institutions, many master’s students at universities across the U.S. took on debt beyond what their pay would support, an analysis of federal data on borrowers found.

www.wsj.com

 

[catmom]

Yeah... That price tag is nuts. I mean the education sounds awesome but...Did you see this article?

‘Financially Hobbled for Life’: The Elite Master’s Degrees That Don’t Pay Off

Lured by the aura of degrees from top-flight institutions, many master’s students at universities across the U.S. took on debt beyond what their pay would support, an analysis of federal data on borrowers found.

www.wsj.com

I did. My parents were warning me about taking out too many student loans and I was being stubborn until I read that article. Also, finding out that student loans are with you until you die and don’t go away during bankruptcy. It’s honestly why I didn’t try again for Columbia, Chapman, or AFI. Just can’t justify the price along with the cost of living.

 

[peony22]

Yeah... That price tag is nuts. I mean the education sounds awesome but...Did you see this article?

‘Financially Hobbled for Life’: The Elite Master’s Degrees That Don’t Pay Off

Lured by the aura of degrees from top-flight institutions, many master’s students at universities across the U.S. took on debt beyond what their pay would support, an analysis of federal data on borrowers found.

www.wsj.com

Wow I've never seen this article, this is so scary. Especially for international students, the prices are atrocious. But I realised it seems to be the normal for most film schools so it's kinda like being backed into a corner.

 

[peony22]

I did. My parents were warning me about taking out too many student loans and I was being stubborn until I read that article. Also, finding out that student loans are with you until you die and don’t go away during bankruptcy. It’s honestly why I didn’t try again for Columbia, Chapman, or AFI. Just can’t justify the price along with the cost of living.

Same, spending all that time and effort on the application seemed not worth it if I ultimately wouldn't end up going any way.

 

[Chris W]

Also, finding out that student loans are with you until you die and don’t go away during bankruptcy.

Thanks George W! And Biden too as he voted for that bill. Sanders didn't.

/SOAPBOX: Student loans should be a one time fee loan where a certain percentage gets added to the balance one time that you are paying back and have no annual interest. It's the high accruing annual interest that really makes it hard for people to pay back. At least make that 0% or close to it. /OFF

Maybe they'll do some student loan forgiveness or reform but I certainly wouldn't count on it. Saving money is a good call. If you can afford those schools without a lot of debt go for it but it's a big burden to get out from under so tread carefully.

 

[Chris W]

Same, spending all that time and effort on the application seemed not worth it if I ultimately wouldn't end up going any way.

Well THAT certainly isn't true. Our members have gotten full rides to some of those schools. It might be worth applying to see how much $$ they'll give you.

 

[catmom]

Sanders didn't.

the one that got away

 

[peony22]

Well THAT certainly isn't true. Our members have gotten full rides to some of those schools. It might be worth applying to see how much $$ they'll give you.

Thanks, I'll look into this!

 

[StarChild]

Well THAT certainly isn't true. Our members have gotten full rides to some of those schools. It might be worth applying to see how much $$ they'll give you.

Also, if you are offered a scholarship (or not offered anything) ask for them to raise it. I did that at two schools with success at both. It wasn’t enough of a raise in the scholarships to make it affordable for me, but it was certainly worth asking and I was very surprised it was a thing. You never know.

 

[StarChild]

Well THAT certainly isn't true. Our members have gotten full rides to some of those schools. It might be worth applying to see how much $$ they'll give you.

This may be posted twice- I wasn’t logged in— but also if you get a scholarship or don’t, ask them to increase the amount. I did that and had success at two big schools. I still couldn’t afford it. They were unable to meet my mark (also know your mark BEFORE you ask because it’s soooo hard to say no after you get “extra” money, but if it’s not enough it’s not enough even if they raise it.) anyway, I didn’t choose those schools, but I didn’t even know that was a possibility but I was turning them down so decided why not. Not only did both raise my amount but neither of them were surprised at all that I asked.

 

[FuschiaFlows]

Does anyone know how Columbia allocates scholarships? Is it based on financial need or merit?

 

[weeblewobble18]

This may be posted twice- I wasn’t logged in— but also if you get a scholarship or don’t, ask them to increase the amount. I did that and had success at two big schools. I still couldn’t afford it. They were unable to meet my mark (also know your mark BEFORE you ask because it’s soooo hard to say no after you get “extra” money, but if it’s not enough it’s not enough even if they raise it.) anyway, I didn’t choose those schools, but I didn’t even know that was a possibility but I was turning them down so decided why not. Not only did both raise my amount but neither of them were surprised at all that I asked.

Thank you so much for taking the time to post this very helpful information.

 

[peony22]

That is so helpful, thank you, I will certainly keep this in mind! I did not know it was possible to ask them to raise it! Also, this might be a silly question but it's my first time applying, at what point do you ask schools if you have any financial aid? Do they offer it on their own or are you supposed to ask them? I'm guessing only once you're actually accepted can you ask these questions. Still better to ask someone who knows better. Let me know, thanks!

This may be posted twice- I wasn’t logged in— but also if you get a scholarship or don’t, ask them to increase the amount. I did that and had success at two big schools. I still couldn’t afford it. They were unable to meet my mark (also know your mark BEFORE you ask because it’s soooo hard to say no after you get “extra” money, but if it’s not enough it’s not enough even if they raise it.) anyway, I didn’t choose those schools, but I didn’t even know that was a possibility but I was turning them down so decided why not. Not only did both raise my amount but neither of them were surprised at all that I asked.

 

[Lunathena]

Does anyone know how Columbia allocates scholarships? Is it based on financial need or merit?

Ditto! Curious and concerned. What's the average aid received from Columbia? And do they offer a full ride?

 

[Chris W]

I just noticed that the dean responded to the WSJ article so I added a news article about it: (they responded in July just noticed now)

Columbia News: Dean Carol Becker in Response to the Wall Street Journal Article

In response to the Wall St. Journal article ‘Financially Hobbled for Life’: The Elite Master’s Degrees That Don’t Pay Off, Dean Carol has posted a response on Columbia's website: "Dear School of the Arts Community: I am writing in response to yesterday’s Wall Street Journal article about...

• FilmSchool.org
• Feb 22, 2022
• Category: Film School News

 

[Chris W]

This doesn't apply (as far as I know) to the MFA program but it's still a pretty awesome development:

Columbia University's BA film program is now FREE for families making under $150,000 per year

Columbia University has updated their Undergraduate Financial Aid for the 2022-2023 Academic Year and it states that families making less than $150,000 will be able to attend Columbia University for FREE. "On April 26, 2022, Columbia University announced additional enhancements to financial aid...

• Chris W
• May 4, 2022
• Category: Film School News

 

[edanna]

Also, if you are offered a scholarship (or not offered anything) ask for them to raise it. I did that at two schools with success at both. It wasn’t enough of a raise in the scholarships to make it affordable for me, but it was certainly worth asking and I was very surprised it was a thing. You never know.

how did you phrase the ask for more money?