Quoted
Why not invest $40K into a dying industry?

Ten or 12 years ago, in his first editing job, “I’d have said, ‘Follow the traditional route [by starting out at small dailies], apprentice yourself to that mythical, grizzled editor … and build a body of work, and learn by doing it.’ But a lot of those local and regional papers no longer exist, a lot of those grizzled editors have been bought out, and along the way I’ve come to think of journalism schools as maybe the last resort in a lot of cases.”
-Bill Keller, executive editor of the New York Times, on the new role of journalism school, from "Reviving the J-School," Andy Guess, Inside Higher Ed
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Keller is totally incorrect, and the proof can be found in the journalism groups on Facebook. There are plenty of young journalists starting out in print. The Columbia J-School grads are particularly active and also opinionated.