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If you want to play, compose, conduct, teach or otherwise be involved with music on a professional level, you will probably need a degree.   The degree of difficulty for a collegiate music education, however, is greatly underestimated.  A degree program in Music entails much more than simply playing an instrument and signing; there are advanced academic requirements as well.  

Students must practice their fundamentals like harmony, time, scales and tone frequently in addition to studying music theory and history.  Most music programs will require students to have at least rudimentary keyboard skills regardless of what instrument they play, so students also have to factor in time playing piano.

All of this requires a high degree of self-discipline and time management in order to successfully complete your degree.  But even that does not guarantee success.  At least on the performance half of the music world, your skills are ultimately what will decide whether or not you get paid to be a musician.