Film school or start filming feature?

Hi there,

I am facing a bit of a conundrum and was hoping to ask for some advice without being too obnoxious.

In my 20s, I started a business which I sold, and now I have a enough funds on hand to make potentially a couple of ultra-low budget features (100k-150k lets say). I've been passionate about film for years and planning to give filmmaking a shot once I had the chance.

I have also been granted acceptance to the MFA program at one of the big name film schools (UCLA/USC/NYU/AFI). I am now trying to decide whether it would be worth attending or not or if I should just make a few shorts and them start filming one of the screenplays I have written.

I could definitely use the technical training (I haven't filmed anything since goofing around as a teenager), and I really don't have any contacts in the film world.

My long term dreams are (like a lot of people) to make Indie films that get to the top festivals or to be a showrunner for a tv show. I was thinking that the film school might help get me on the radar of the people who run the festivals so they would take my films seriously when submitted. I know the quality of a film, by a good margin, is the most important thing, but I also know how important contacts are in life. I was also dreaming that I might be able to use film school to work my way onto the writing staff for a TV show. I'm admitted to the directing program, but have the option to take screenwriting classes taught by working industry people. I thought I might be able to use those contacts the get onto a staff somewhere.

I'm not sure if it is worth the time though. I just turned thirty, and don't really think I have the time to spend 3-4 years in classes.

Do you guys think for somebody in my position with sub-par technical skills and no contacts in the industry would be better off going to film school or just starting to film on my own?

Any advice would be greatly appreciated.
 
From the NYT article:

One very important aspect of film school has not changed: There is still no guarantee of a career.

In fact, it is harder than ever to find a traditional Hollywood job, experts say. Studios, battling declining DVD sales and a topsy-turvy box office, are not buying as many scripts from new writers and have eliminated junior staff positions. They have also cut back on deals with production companies, which often provide entry-level positions. At the same time, the market has been flooded with graduates.

“I would equate it to what happens to new directors after they get a film into Sundance,” said Mr. Martin, the “Reel Truth” author. “A handful go on to careers. Most go on to face loan payments.”

The reality is that working for three years as a low-paid assistant after graduation is viewed as a very good outcome. Yes, as Full Sail publicized in a news release, 11 of its graduates worked on “Transformers: Age of Extinction,” which took in $1.1 billion worldwide last year. But look at the fine print. Three of those workers were production assistants; one was a payroll clerk.

. . .
 
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