@GMTplus7 I would advise that you DON’T go into huge amounts of debt and DON’T raid your 401k. If the student has to compromise and go to a cheaper school, then use the savings to invest in summer programs to supplement what they are not getting in the degree program. There are lots of ways to get the training you need, don’t get caught up in the idea that you MUST come up with the money or you are ruining your child’s chances at a career - you’re not. If the difference is $10-20k over four years between two schools, that’s one conversation. But if the difference is more than $20k, I start questioning if the shortcomings can’t be made up for during the summer. Besides, the student can always transfer if they are not happy with where they end up.
My students who actively pursue this (meaning they audition non-stop) book work. Some are earning non-equity regional theatre rates (around $300-600 per week), others are earning $2,100 per week plus per diem (~$900) on tour. Lot’s of my students book cruise ships at $1,000 per week to pay down their loans.
~VT