There are many things to consider when trying to calculate the true cost of an education; some obvious, some less so. First and foremost among educational expenses is the cost of tuition. On Schools For Me, we have chosen to display the complete tuition costs to graduate. In other words, if a school costs $10,000 per semester and requires eight semesters to graduate, then the tuition cost displayed on Schools For Me would be $80,000 ($10,000 x 8 semesters).

Scholarships and student loans both affect tuition costs, but in different ways. Scholarships lower the amount of immediate out-of-pocket tuition costs as well as the overall cost of tuition. Student loans also lower the immediate out-of-pocket tuition costs, but increase the overall cost of tuition in an amount equal to the interest paid on the student loan.

Books, supplies and materials are another out-of-pocket expense that must be figured into the equation. In addition to the cost of textbooks and manuals, many institutes require their students to have a laptop computer with internet access. Some schools charges lab fees for certain courses. Other courses require specialized equipment which comes at an additional cost; for instance, musical instruments in a music course, audio software in a recording course.

Room and board can be substantial whether you live in a dorm, fraternal organization building or off-campus housing. These costs can be mitigated somewhat by choosing a school that’s within commuting distance of where you currently live. (This is especially true if you live at “home” with your parents.) Depending on location, this can limit the choices to community colleges, online schools and mentor/apprentice programs. One thing to consider: staying at home eliminates one of the prime benefits of post high school education—getting away from home, expanding one’s horizons, striking out on one’s own.

There is also a vast hidden expense that should be figured into the calculations of the true cost of education. In most creative media/arts careers, two things are true: a degree is not necessary and no matter your education, you are probably going to start at the bottom. This being the case, an argument can be made that every dollar you spend on formal education is a dollar out-of-pocket, and every month spent studying is a month you aren’t working and bringing in income.

Consider two scenarios: Scenario A—the traditional film school student on a major university campus. Four years later, and $100,000 in debt, with a handful of industry connections (mostly other students in their graduating class), the student enters the job market with a diploma and a reel. Scenario B—the confident high school graduate who starts knocking on doors of film production companies where he lives, and after a month he’s started working as a gopher for one of them. Four years later, he’s already earned $200,000 working in film production and is currently working for a film production company as their location manager. These scenarios are extreme: most students fall somewhere in between, but nevertheless, money not earned and a career not advanced are two potential costs of education that must be considered.

Not everyone has the ability and confidence to go cold calling on production companies in search of work. Education can teach ability and confidence, and to a certain degree sharpen the students cold calling skills. The time spent at college can help transition the student from high school to the real world of working for a living. However, passion is probably the most important character trait for success in the media/arts. Education can’t teach passion. What education can do is teach you to channel this passion into a successful career.

Related posts:

1. FULL SAIL – Education Media (Masters Program)
2. FULL SAIL – Show Production (Bachelors Program)
3. Institute of Culinary Education
4. FULL SAIL – Recording Arts (Bachelors Program)