Can you do it without going massively into debt? It's hard enough to pay off one Masters degree loan in this industry. I can't imagine trying to pay off two masters degrees.
Will it help you find a job? Yes and no. You have more skills so you can apply for more fields of work, it should be easier in theory to find work. But it's hard to do more than one at a time. I would be concerned that employers would see you as someone good at multiple fields but not a master of one... which could hurt you.
If you've read these forums much you'll know
Gaff's Rule about the critical roles that real world experience and dumb luck
play in your getting work. Unlike every other career out there, more education can't guarantee you more work. You can have three MFA's and some guy with a BFA and 5 years of experience (who once worked a summer
stock gig for the person doing the hiring) will get the job over you. It is very important that you get a good education and know what you are doing, but it's equally important that you demonstrate on the job that you know what you are doing I have the
current job that I have because my boss called a friend of mine asking for help and my friend said, "Give
Gaff a
call he can do that." Initially the degree will be a huge help getting work. But 10 years into your career no one will care where you went to school or what degree you had. All they will want to know is where have you worked and who did you impress while you were working. Meanwhile you'll be trying to still pay off that student loan.
SO, if you can afford it AND you are doing lots of theater outside of school to
build up a good resume. I say go for it. But DO NOT go into it thinking you'll be making $70k in three years and be able to pay it all off or you'll be eating Top Ramen and sleeping in your car for the next 20 years.