Bummer post incoming:
It's a fast way to barely make any money.
The formal education doesn't seem to do much besides cause debt, from what these kinds of threads show. If you want to be an audio engineer, now is the golden era of learning at home. Interning at a studio is always valuable, and working at multiple studios will provide different views.
Music is not a field to go into if you need to support a family or want to make "good" (this varies for people) money. Turning a passion into a for-profit project usually sucks all the life out of it.
This isnt to say dont do it, just be fully aware of the risk involved in trying to support yourself in the arts. I would look for a day job you can stand and immerse yourself in learning engineering or production or development in your free time. If you become good at it, people will seek you out. Also keep in mind getting good at any field takes years of hard work - dont expect to charge $500/song any time soon
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And now for actual engineers and producers to chime in.