Are MFA's worth it?

A fellow mentee of my mentor asked this question in a comment below.

I think so. I had a really good time doing mine. My writing got a shirtload better, I came out connected to magazines I like reading and writing for, and I made a horseload of wonderful and interesting friends. The things I did during my MFA laid the foundation for the beginnings of a literary life. But then I think the pricipal reason to go should be because it'll be fun, or at least pleasurable, and will satisfy something you need satisfied. The only real downside for me has been that Columbia costs a frickin' mint, but I've taught myself to forget about that. Who needs money anyway? And debt builds credit, and character. Columbia's also been the most expensive dating service in the world.

Anyone else wanna weigh in?

Also, B. and I are off to Paris tomorrow. I hope to post a little travelogue as we go.