As cool as it might be to go to a music college like McNally Smith, a lot of these people would be better off investing in good equipment, maybe a home studio, and work their fannies off honing their craft, rather than getting a degree, for example, in "Drum Performance."
Pretty much every gig I have ever gotten has been because of how I play, not because of a degree or certification (and I have gotten a lot of gigs). Granted, there is something to be said for learning from the best. But it is a course of increasingly diminishing returns with a lot of debt as a result.
My heart goes out to these kids. They have been bamboozled by some music veterans who should know better.