Even if I sound like an old fart, homeworks win, hands down. If you want to practice, practice in some other time, take a class where you'll learn theory or whatever, choir, etc, but SCHOOL comes first.
I'm a pro musician, but I wouldn't have my job if I hadn't graduated, because I went to college and everything. I now play the guitar for 8 hours a day, and guess what, I get paid for it. But it all comes down to one thing, working in school to get this job...
If you think you're gonna get paid to be a rock star, forget it, you might also get hit by lightning (you actually have more chances).
Get an education, work hard in school, get your chops together, and your attitude (it's everything in pro music, if you are an asshole, forget about getting paid for a gig)and something good might happen.