Don't go to art institutes, they generally suck and are always overpriced for what you get out of it. the one in SLC is especially bad. Your friend is probably learning a lot because she didn't know anything. When you graduate from an art institute, people looking at your resume will instantly disregard the schooling because they aren't looked upon as schools that have real merit, they basically set you up to be a production dummy, or someone that holds mics.
If you do go the art institute route, you will have to either have a ton of natural talent or put in a ton of work outside of school to build up a good body of work to show people to get a job, or start at a shit job and build yourself up from there to make it. Or, put in a bunch of outside work to get freelance jobs - at which point nobody will care about if you even went to school.
I'm not saying that going to film school is a waste, like others might. Going to a decent school will push you to learn things (albeit many programs get preoccupied with technical things rather than creative things), and it will help you to further your skills.
Going to College (a real college) teaches you A LOT about life. I would say that 50 percent of the shit I learned in college was outside of my major (graphic design at the U of Utah). I definitely learned a lot in my program as well, and value the time I spent there. I had a scholarship, though - I might feel differently with a ton of loans on my back.
Besides that, unless you are naturally talented, work hard, have the ability to self-critique and recognize quality, and are good at making connections, art degrees can help A LOT.
As for connections - I made almost 0 connections in school, and I definitely tried. I currently am making 0 money from any connection I made in school.
I don't think that if you were applying to a job at any sort of a media firm or studio for a position as a creative, ANYONE would value a business degree over a film degree. They hire business people to take care of the business, they will want you focused on creative. The business degree route / teaching yourself the creative stuff is a path better suited for people that want to freelance.
BOTTOM LINE is that film school can be a good route for some people, and a waste of money for others. What matters is your work, and it's up to you to find the best path to help you produce it.
However, the Art Institutes will always be a waste of money.