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There might be a use for Neverland Ranch after all. The former home of [lastfm link_type="artist_info"]Michael Jackson[/lastfm] might become a small music school.

TMZ has learned that Colony Capital, who own Neverland Ranch, want to make it in to a music institute similar to The Juilliard School in New York.

The school would teach teens all aspects of music and be open to all students – rich or poor.

[lastfm link_type="artist_info"]Michael Jackson[/lastfm]‘s new album, Michael, is in stores now and is streaming online for free!