For college-educated musicians, student debt is more than a burden -- it's a career life sentence

https://www.businessinsider.com/student-debt-college-educated-musicians-careers-2019-1


Musicians who take out student loans to pay for a college education often struggle to find a financially feasible way to follow their passion.

In addition to student debt, the high costs associated with being a musician prohibit many from pursuing a full-time career in music.

One artist we spoke to, Nashville musician Rayland Baxter, told us about the challenges of making $600 monthly loan payments while pursuing a career in music.

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Additionally, the sheer costs musicians must spend to simply perform and to get their music heard can be prohibitive for some. From instruments to studio time to merchandise to tours, musicians have to sink a fair chunk of funds into their craft, unlike many other jobs.

Guitars, for instance, can cost hundreds to thousands of dollars. Studio time can be anywhere from $40 an hour to hundreds per hour. If musicians choose to go a more DIY route, they still need to pay for recording equipment and software. When it comes to touring, musicians have to consider buying or renting a van and paying for expenses throughout the tour, including gas, food, and hotels or AirBnBs.

Compare that to a traditional nine-to-five job where your expenses are mainly limited to gas to and from the office. More conventional careers also tend to have other important perks, such as health insurance and a retirement plan.