My nephew is majoring in drama, and he definitely thinks he's going to hit the big time. He believes that just because he's passionate about acting, and is talented, he's going to be a rich, famous movie star when he graduates. Maybe he will, but he's in denial that there are thousands of other passionate and talented aspiring movie stars out there, and the chances of making the big time is SLIM. He definitely needs to hear that he should be smart enough to have a solid career/education to fall back on if he doesn't make it.
My own son will be starting his senior year in HS, and wants to major in Film when he goes to college. We live in NYC, and I've known so many unemployed "film makers" that it's just sad. He has to be practical as well as follow his dream. We're guiding him to find something more hirable as well as film making, otherwise he may have his dream degree with no job. What good is that?
My other son has a Masters in Political Science, straight 4.0, did a semester in Italy, all with the dream of working for the FBI, CIA or the State Department as an Intelligence Analyst. Guess what, the government isn't hiring in anything close to his field. So he's working in a warehouse while continuing to send applications to government agencies.
My point is this: some college age young people need guidance to help them see the real world through their dreams. Encourage their dreams, but sit them down and help them figure out a backup plan. In my house, that's part of a parent's job.