I received an email from JW, a mother in Nebraska whose son J was a junior at Nebraska Wesleyan University, struggling to fund his education and $44,000 in debt pursuing a music career.
Here's my response: Young people are adding $100 Billion+ in debt every year for college. Unlike other debt, this is inescapable via bankruptcy. Five years ago my foundation did research showing that for more than half of students, traditional college is not a good investment.
About your situation specifically: I know of no research that suggests college graduation is helpful for a career as a musician/songwriter. My recommendation is to encourage your son to focus on a real life education — playing and writing music in coffee shops, bars, clubs and concert venues. This is where true learning comes about the world of music. Colleges will always be happy to take your money, but that path will always be there. If college feels essential in the future, resume that path at a cost-effective institution.
Good luck. --MR
