I saw this film on premium cable in the early 1980’s. It was American, in English, and in color. It was about a young man going to film school. The other students were making non-commercial films which ended up looking like parodies of French new wave cinema. The protagonist just wanted to make fun and entertaining lowbrow movies. That’s really all I remember. Thank you for your help.
The First Time (1983)?
https://www.imdb.com/title/tt0085546/
I’m pretty sure that’s it. Thank you!
Solved!