My cousin went to Harvard Law. Her first job out of college pays more per year than the total of her tuition. So yeah, it was totally worth every penny of the money. (Even though she hated Boston and froze her El Paso raised ass off for three years.) In that case we can't compare. Any Ivy League Law School degree can pretty much guarantee a huge salary on graduation. Eastman, IU, Juilliard and the like certainly can't make any such claim of their grads.
The other bonus for something like that is that the alumni make big bucks and can be regularly hit up for donation. That's not going to be true for music schools.
I see your point about law professor salaries. But how many students were in each of their classes. When you put 50 students in a class and then divide out that cost among them, the cost per student is not nearly as high as when you have classes with 5-10 students in the class or more significantly private lessons. A teacher who only teaches 15 students total per semester is much more expensive per student than the prof who teaches 200 students (four classes times 50 students).
HT
"No person is your friend who demands your silence or denies your right to grow." - Alice Walker