TLDR: No to the BS. If you must do the school thing then consider a associates degree at a good community college to limit your expenses. Consider Electrical Engineering instead due to many similarities, but also a good salary.
I agree that getting a BS is bad idea. I have had several collegues go to
Full Sail and received good educations in the field and have turned their educations into good careers. Bring your wallet! They have the best education and connections in the industry - and they know it! I'm also not sure that the income fully makes up for the cost of living in Toronto and Hollywood even with that education.
I went to community college for a 2.5 year Audio Engineering associates degree. The school ended up being a good school - not a scam, but I ended up ditching the program 2 years in. Yep. I was just about to cross the finish line and I ghosted them.
So what happened? I did my internship at the best studio in Houston (Beyoncé/Destiny's Child did a lot of their recording there, as did Salina when she was alive, and a few other well respected Latino bands, a few rap/R&B artists as well). I was top of my class - #1 or #2. And I had golden ears. The problem? I was getting paid $15/hr, only had one or two paid hours a week, but they still wanted me there 30+ hours a week to move gear, setup gigs for the lead engineer on other projects, etc. All unpaid. I had a wife at home, and the toll road was eating that $30/wk and then some. Since I liked to eat and not live with my parents, I decided I needed to find another path.
The owner of the studio was an electrical engineer. I realized through my interaction with him that EE was where the real money is made and that I had some interest in the field. I enrolled in a engineering program the very next semester. There are many similarities between the two fields: signal flow, creativity, power, amplification, filters, using computer tools to help complete tasks, etc. It's not all peaches and rainbows by any means but at least the money is good, and I more or less get the same satisfaction as I would have engineering a record.
Today anyone can start recording on their cellphone for free and make a demo song or two, or ten, or 100. I mean, it just isn't profitable like it used to be in the 50's-70's. I think you'd be fortunate if you were pulling $20k a year doing it.
I intend to get back into the industry when I FIRE. But at that point all of my bills are paid and I'm truly doing it for fun.