Here's my $.02. First off, you need to decide whether you are "ready
to go" or not. If you still have technical work to do, or need the
kinds of experience you can get in grad school, then that should be
your option. Even if you don't, grad school might be for you for
financial reasons, etc. For example, you can get assistantships and
financial aid at grad school that are (of course) not available if
you just study privately.
Also, I encourage everyone to think about their entire career. At
some point you wil probably stop singing full-time and want to teach.
At that point you will really need to have at least a master's
degree. It will be a lot easier to start one now when the theory,
music history, etc. are fresh in your mind. Believe me, I have seen
lots of grad students who have been out for a while, and they have
forgotten almost everything!
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