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Hello Susan
I applaud your drive! I think it's very courageous to go back to school mid-career and give it your best shot. Good on ya!
I know lots of people here have degrees, so I'll let them speak to that part. I didn't finish art school, left after 2 years for financial reasons mostly, but I probably could have worked those out if I really thought that the art school was creating great artists. It wasn't. I don't know about now, but back in 89/90 modern art was still a very big whup, and students weren't "taught" how to paint so that their budding creativity wouldn't be stifled.
If I had it to do again, I would spend the money on workshops and an extended atelier program. That would have gotten me to this point faster, as well as looked nicer on a resume than the U of Illinois degree I would have gotten. It's pretty specific, though, and a nice background in realism probably won't help you find a day job in commercial art.
By the way, jobs in art are everywhere. While there are relatively few fine artists, there is a huge number of commercial artists working on everything from illustration to web design (I did that for 9 years now) to advertising, to package design, to industrial design, to interior design/decoration, to decorative painting. You can do any of the things you mentioned and loads more. I look at art like a trade, not an ethereal calling - almost like being an electrician or mechanic. Once you have mastered the skills, there should be jobs to be had. (Of course, I know a few out of work electricians, but you know what I mean.)
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