When I went to appeal my grad $$ at a well known conservatory, I was told point blank if I were a violinist, or a male singer, I'd be writing my own ticket. But, even with my debt (which is not as high as the OP, but not inconsiderable), I wouldn't have changed my grad school experience for anything.
The truth is, if you're smart, you have a list of what you want to get out of your grad program. In my case, coming from a liberal arts non-music background, part of what I wanted was immersion in the singing world. I would not have gotten that at a couple of schools who offered me more money. I guess it all depends on priorities- but sometimes it's worth paying.
If you've chosen to take the debt route, that's fine, and it's good to go in with your eyes open. But make sure you're getting your money's worth
