New software engineering programs are popular but controversial. Offering such degrees has been the subject of hype by some who believe a new SE program will address industrial software development problems (failing to realize exactly what a new program should offer and when it is most appropriate to be offered). New programs have also received deep criticism and subjective evaluation by many traditional computer scientists who see them merely as an opportunity to provide industrial training in programming (but who fail to understand the complexities of software). In many ways, the current situation involving SE programs mirrors that of their computer science counterparts in the 1960s and 1970s. While three or four decades ago electrical engineering and mathematics faculty resisted the growth of computer science degree programs, current computer science faculty are often treating SE in the same manner. This article highlights and addresses some of the most commonly held myths (both favorable and unfavorable) about the real and perceived purpose of introducing a new SE degree program. Those who plan to introduce such a degree program should understand the facts instead of basing their decision on these myths.