The key to film school is building your support group. Your crew. And potentially actors. If you already have a degree, getting involved with a filmmakers community group would probably be the best bet. I've heard all the arguements. I learned the most from doing rather then in the class room. But, I met my team there. There is something to be said about saving your money for a feature, but how do you get that done with out help?

And I will say this, don't bankrupt yourself on your first movie. It will probably suck, then you are broke. Work on your story telling with some smaller less expensive projects. This will also weed out the idiots, slackers and degenerates you will encounter in the filmmaking process. When your makeup guy is coping a fell on one of your actresses while applying a squib to her shirt, you come to the realization you don't want to work with that person again. Sometimes it takes years and several projects to figure out who the creeps are and who the dedicated people who share your goal are.

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Or you could go the Tarantino route:: Write a really good script that can be made for cheap, and get lucky by having someone important with power rea dyour script, like it, and help get it made.

Or the Kevin Smith route: Scrap together money, finance the movie through credit cards and make a short, cheap movie that has something to say, and hope it gets accepted into a major film festival and then picked up by a studio.

Don't plan on either of those routes working. The myth of the independent circuit died in 95. Sundance is for people with low budgets, 1 million dollars, and actors that are working for SAG union rates. ie. made actors slumming it push their career in different directions and studios that don't want to invest 100 million on something that may not work with the 2.5 kids. Develop your skills, build your crew, save your movie. There are no golden tickets, and it takes years to earn your rep.

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Sundance isn't Sundance anymore, and even Robert Redford acknowledges that. When it first started out up until the mid 90's it was a great showcase for little, unknown indy filmmakers. Now it has become over publicized and pollouted with Hollywood stars.

Also who knows where the industry is heading. Who knows what it will be like it 5, 10 or 15 years from now. Technology is constantly changing.