Will a degree in music allow you to perform or teach or both?

As someone who nearly majored in music, and with many family and friends who did major in music, it really just depends on where you want to take it. If you are looking to be an educator, then you could major in music education. If you are looking to be a performer, then you could major in music performance. I will tell you, from experience, that many of my musician friends teach on the side even if their primary job is performing. I don't think it has to be an either/or type of thing. Also, many schools who aren't known for their music programs will offer scholarships to good musicians, so that might be something you would also want to look into. Personally, I think music is something that can bring you joy for the rest of your life. Good luck to you in your future endeavors!