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<p>You have framed the questions incorrectly, IMO.</p>
<p>Taking out massive loans to pursue a career for which you are ‘called’ when the career has little chance of a job makes is irresponsible, IMO. For example, borrowing hundreds of thousands to attend a fine arts college…</p>
<p>There is absolutely no supporting data that attending an expensive college gives you “the best chance of success.” None.</p>
<p>(IMO, you are not paying for ‘success’ but for a guaranteed admission to a 5th year. While perhaps worth something, is the guarantee really worth $100k? What if your D went the public route? Even if not accepted into Year 5, she could get a job and reapply, and still be a whole LOT financially better off.)</p>