Forseeing my future in major debt...help....

Hey all,

Just had a mini-breakdown, and need some advice. I'm in my 1st year of my masters program and loving it, but have sort of had a realization of just HOW MUCH debt I'm going to be in after I'm done. I already have a bit of debt on my credit card, but have no debt from undergrad. When all is said and done, I'm gonna be in about $80K of debt. This is so much, and the worst part is, there is NO job guarantee!

My question to you is:
Do you take a year or two off, keep up w/ voice lessons, but just work off the debt as much as possible?
Do you audition your ass off and plunge right in?
Do you start teaching lessons out of your home?

My parents are supportive but kind of think this whole thing is unbelievable. My dad puts it: "if you get a masters in business, you will get a great paying job out of it..i don't understand how you can finish a music masters and not get a good job"

To those who have been in this kind of debt, what did you do, and are you living on the street???
Thanks so much...