Abstract
I teach painting in a Master of Fine Arts program at Pratt Institute in Brooklyn, New York. Typically, the students have anywhere from $60,000 to $100,000 of student loan debt that by law must be repaid. Because of mismanagement of the college’s finances in the 1970s and 1980s (there is practically no endowment); only a pittance is available for graduate scholarships. Most students have to pay the entire $29,900 yearly tuition. What do they get for their money? Or, to pose the question in a more general way, what is the value of an MFA degree? The answer is complicated, for it involves among other things student expectations, educational trends, a changing art world, and the state of the U.S. economy. Each fall semester I ask my students why they have come to Pratt and what they want to do when they graduate. The common answer is to develop as artists and find a commercial gallery to show and sell their work. Some want the MFA degree so they can teach on a college level. I look at these young adults and see hope and ambition. For many, the two years they spend in school will be the best years of their lives. They can experiment with media, don multiple styles, and hone their message—all in an extraordinarily supportive environment that keeps the outside world at bay. They will finish up with a thesis exhibition showcasing their best work. At their openings they will beam with pride and accept the accolades of the faculty. And then, after they’ve earned their diplomas, most will fail to have successful careers as artists. Acad. Quest. (2010) 23:117–124 DOI 10.1007/s12129-009-9143-5
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