First of all, I don't know that every music business degree will run you $50,000, but I do know that many will run you more. As an example, a 4-year music business degree at Belmont University in Nashville is about $100,000 right now.
Yeah, you could be like this guy and go to a state school with a mediocre program to save a few bucks, but that will still run you $25,000 or so and you'll be left with the same problem when you get out.
What's the problem?
According to this guy, nobody wants 2010 grads with any degree, because the changing workforce has no use for them. In my opinion, that's especially true in the music business, where the established machine that we've had for 50+ years has been broken up into a million pieces.
So much for that dream of hanging out with rock stars in big recording studios, flying in private jets, and racing European sports cars on the weekend...
Now here's the good news...The music business isn't dead, it's just changing. There are lots of jobs, but you'll likely have to create one for yourself.
And the $100,000 question (and I mean that literally) is... Do you need a degree to create your own job?