Actually, I'm kinda thinking about that. But it seems they don't offer a MA, but rather a BA in the relevant field. Certainly, a specialization is better than a progression of certificates though...and you also make a showreel and portfolio there. Interesting.
if you are going to spend all that cash, why not think about Vancouver Film School?
I did browse through their webpage, and I must say, although the course seems amazing, the University does a bad job representing itself in their webpage. Thumbs down for a boring and non-user-friendly website.
I looked into it a while ago but I think the University of Hawaii at Manoa has a degree program for movie/animators I'm fairly sure they have a BS degree and might have an MA. I stopped looking once I realized that I wouldn't be able to attend any of the classes.
I don't know how reviewed they are or if its what you're looking for it might be another option. Here'sa link to their Academy of Creative Media site.