|Is this what most MFA programs amount to?|
As I understand Botnivick, the idea is that the loaned portion of a student's tuition should not be paid upfront, but rather collected as an annual tithe over the first ten years or so of a graduate's professional career. If a graduate can't find work in the field in which he or she paid to be trained, they are allowed to default on their loan - hence if a school doesn't produce working artists, it won't collect its tuition.
Hmmmm. How many MFA programs - or tenured professors - would dare to take that challenge? I wonder!