When read an old post like this, it makes you wonder what happened to the OP? But it's a great topic, and many musicians have to make these choices.
When I was 18, wanting to be a music major, most suggested I go the music education route. Seems like good advice, but I did performance and got a minor in Spanish. I did (and still do) enjoy teaching drums, percussion, and piano privately but you don't get benefits, like heath insurance and paid vacation like public school teachers get. Eventually I did an alternative teacher certification program, and got certified in music and Spanish.
I got lots of job offers in both areas, but I chose Spanish, mainly because teaching music would take too much of my time (football games, competition, concerts.... ) I still have time to teach a few drum, percussion, and piano students, take gigs, and my Spanish teaching provides a steady paycheck and benefits. I really enjoy both fields very much so it all worked out well. I am actually eligible to retire now, but I feel why too young and I love my "day job"!
I guess I am saying you can still teach with a performance degree you but you'll need to do an alternative education program after you graduate in performance. But you won't have the knowledge of wind, brass , strings or choir like a music education will have, so that could be an issue. But here in Texas many high schools/middle schools have full time percussion directors but you need to well versed in marching percussion, mallets and timpani too.
A good friend of mine graduated from UNT as a jazz studies major (Guitar) He did alternative certification, and taught elementary general music for many years. Now he teachers "modern band" ( mostly rock) at a high school. It's also a full time position and he has done really well, training his students in guitar, bass, keys, drums and vocals. He's very dedicated teaching and manages to keep active performing jazz guitar too.
So there you go!