The kid I know was getting paid before she graduated. Something like a string of unpaid internships was what happened during the early years of college.
As I understand it, the USC film school is unique, both in its selectivity and its industry ties. (Also – the film school does not include actors.) The specialty program that my friend was in was very small. I don’t know if all of them got jobs, just that the process for the person I know was not terribly daunting.
I think it’s also the case that a lot of employment in entertainment is episodic/gig economy stuff. 1099s and periods of hustling, not W-2s/benefits/409(k)s. But that doesn’t mean at all that one can’t support oneself.