Is a Music Degree Worth the Loan?

music degree


If you’re interested in pursuing a music degree, you may be wondering if it will be worth it in the long run. Research shows a positive future for you. Job positions for professional musicians are expected to grow by 6% between 2016 and 2026.

Even though you should be able to expect a return on investment from your education, you still might be wondering how to access funding for musicians. 

We’ll help you discover how to secure funding and which loans are worth it to keep you out of debt in the future.

What Type of Music Funding Is Available?

Before pursuing a music degree, it’s important to figure out how you’ll pay for your schooling and possible expenses after you graduate. Luckily, you have a few options to choose from.

One of the best ways to access funding is through grants for musicians. Many programs exist to support musicians specifically to get them through school and working toward a career. The best part about grants is you don’t have to pay the money back.

The downside of grants is that they can be hard to qualify for and are highly competitive. If you can’t secure a grant, you can always pursue low-interest artist loans. Loans designed for musicians can support everything from events financing to general use.

Will You Need Additional Funding After School?

Even though professional music careers are growing, you still may need additional funding to get started once you graduate. If your career doesn’t involve academia, you may need to fund your own music business or projects.

Similar to educational grants, you can apply for benefits through foundations like the Foundation for Contemporary Arts. These organizations provide generous funds to promising artists as well as emergency funds if you’re struggling.

Understanding how to finance music projects is key to making your money back in the long run. You may be able to apply for artist loans once you graduate that can also help finance your music ventures.

What Can You Do With a Music Degree?

You may have been told that music degrees aren’t worth the cost, but that just isn’t true. These days, you can apply a music degree to a variety of industries, including the following: 

  • Recording
  • Musical theater
  • Film and audio production
  • Education
  • Event production
  • Gaming
  • Music therapy
  • Orchestra

Depending on which industry you choose, you’ll have different financial prospects. Choosing your career path is essential to understanding the types of funding that will benefit you the most.

How to Get Started With a Music Career

To get started pursuing a music career, determine the type of education you need. If you’re keen on becoming a freelance performer, you may not need a music degree after all. However, a degree will likely open up new doors to a variety of different industries. 

Contact us today to access artist loans that can help you get through school and jumpstart your music projects as soon as possible.