Industry training is probably a better entry to Arts and Entertainment. Since the director class jobs are going to be who-you-know and grace and favour anyway, pretending the degree got you there is silly: Convert this to classic apprenticeship with placements, stop selling dreams.
The apprenticeship model is how Hollywood still operates, basically (add in outrageous amounts of luck). Columbia, and a lot of other film schools, are just exorbitantly expensive trade schools but modelled on MFA writing programs, and networking programs. Everyone that I know who is involved in the industry, and actually making a living, just started working in industry instead of pursuing grad school.
So the problem is grad school? Fine.. lets shut down the grad programme and stick to undergrad basic training, with an industry placement, Get people hands-on experience and a union ticket.