Nope, there're many options for musicians

They can live well as teachers, even without any degree. There're a lot of local music schools and studios, online tutoring, online academy. They can charge a prime rate if have a good reputation. Prime rate! $1.5/minute is nothing. They can tour in summer with music camps, large music festivals, orchestras all around the world!

There's absolutely no problem in making a living if anyone graduated from Juliad.