So for now we can start with Eva's comment:
I'm 25 years post my bachelors in creative writing (graduated 1985, University of Arizona). How I wish I'd had the time, money and guts to pursue the MFA!Thanks, Eva! It's true that it takes a big commitment to go for any kind of higher education. The good news is that there are a lot of options for getting one's MFA if you are determined to do it. Financial aid can be very good, varying from half to full tuition; if money's tight and you do want an MFA, do your research and find the MFA program that fits your needs.
I'd love to hear more feedback about those considering an MFA. I'm currently enrolled in a program and can answer questions about the experience.