<p>how much debt would you agree to take on for a music degree? discuss :)</p>
<p>Debt? Don’t.</p>
<p>It depends, need more info…in many cases the decision to take on debt for a music degree is no different than taking on debt for any other degree.</p>
<p>But (freestanding) conservatories often don’t have financial aid at the level of colleges and universities, so the level of debt is higher, presumably.</p>
<p>As little as possible and preferably none. What a lot of students and parents don’t consider is that those years right after graduation, when you have to start paying down your debt, tend to be VERY expensive. Traveling to auditions, continued lessons and coachings, living expenses in major metropolitan areas----all these things cost a lot of money. You will be sorely tempted to take well paying work outside of your metier just to keep up with the burden of your debt. And frequently that’s when careers in music get sidetracked.</p>
<p>It’s an individual decision and one each student and their parents need to discuss on a case by case basis. Gone are the days when schools needed students so much that they offered full rides- there are far more students than openings now. Depending upon your instrument or voice type, you need to attend the best program and study with the top teachers in order to catch the attention of a great grad program or land that big audition. 6-8 years ago, this wasn’t the case.
The repayment amounts are now tied to income, so it’s at least more manageable for today’s students.</p>
<p>I agree with Mezzo’sMama: this is very much an individual decision. Those who say “little to none” mostly have students who graduated a few years ago when full financial aid was more readily available. “It depends on your situation” is a better answer, if frustrating.</p>
<p>Yes —it is an individual choice, but students and parents really need to consider the current market. Of course I am just speaking for VP. I can just go by what I see in the current job market. And I wonder why, the graduates that are getting work—have very little or no debt. I was at a reception for new admits to one of the top paying YAPS in the country—and this was one of the discussions we had with the admits. . Most in the program had no debt at all. Most were recent grads.
My D graduated two years ago and this was a huge issue then as well. Luckily her undergrad teacher constantly harped on the importance of little debt. I don’t think anyone is doing themselves a favor by neglecting the expenses for a post grad job seeker. Just as their are far more students than openings and merit money, there are far more graduates than there are jobs.If your parents live in a major market and you can stand living at home, it’s easier and debt might be an option. So the audition costs vary per student. But certainly that first few years needs to be considered in that students individual choice. In this tight market just be aware that,( depending on your situation)debt may hinder more than it helps.</p>