Firstly I commend you for looking to pursue a more vocational training and if it's your belief and passion that drives you then GO FOR IT!
To concede with everyone else though, it is neither the easiest process to go through nor the most profitable career choice. If you're willing to bear the slings of constant criticism and long periods of unemployment then you're making the right choice.
I personally know how difficult it is to secure a place at a drama college. it was only in my 3rd yr of attempting that I was offered a place at ‘Mountview Academy’ for BA Musical Theatre. As I’m sure you know though this training is also a costly one and without a ‘DADA’ award near impossible for those of unprivileged backgrounds to attend.
I am one of those people and therefore had to defer my entry in a bid to raise the fee’s. After 3 yrs of hard work it was a massive punch in the stomach to finally achieve my goal and have it taken away again. This however is not the case for all drama schools and the more acting led courses i.e RADA, LAMDA, Central are all student loan funded.
When it comes to the drama school audition circuit It is expensive but I’d say audition as many places as possible so you get a real feel for what institute would suit you best and gaining experience. It's all a game and knowing how to pander to the panels needs is how you get in. You really have to do your research into every school because they will each be looking for different qualities which you need to bring to your audition pieces.
What I’ve found is that courses aren’t looking for a perfect performance or a finished product but potential. Also that if you don’t get in on your first attempt it’s more often to do with your face than it is your talent. I know plenty of not so talented individuals on drama schools courses but what they lack in talent they more than make up for in attractive and versatile facial or body features.
Why? Because this is a looks driven industry whereby an agent or director will judge you on your headshot before you are even given the chance to show what you can do. In this vein try and find someone like a director who will give you honest feedback on how he thinks your ‘look’ would be perceived for acting jobs so that you can pick appropriate audition pieces that would show you’re not one of the hundred other disillusioned auditionee’s dreaming of playing the lead.
I however have no comprehension of your physical features so if indeed someone deems you as leading female quality then your employability rate has just gone up! Perhaps they already have someone with similar features, build or hair colour? Reasons as fickle as these as well as what time of the year you apply to how a judge is feeling on a particular day can all effect your potential entry onto the course.
In contrast to the perceived notion that life experience is a pre-requisite of an offer, there are a stream of school leavers with inexperience who get offered places because to a panel they are less 'affected' and therefore easily mouldable. You have to go in and sell YOU. Don’t try and recreate anyone else’s performance of a piece you may have seen or be someone you're not. You have to reveal who you are as a person and how YOU approach text because in the eyes of a panel if you’re not unique then you’re easily replaceable.
Finally, if you are certain that a purely practical training is what you desire and you’re unsuccessful in your first year then don’t be dissuaded. There are a range of foundation courses now offered by most accredited drama schools with high success rates. These courses are designed specifically for individuals looking to gain entry onto a full time BA course and a great way of diversifying your skills whilst showing a commitment to your craft. So perhaps look into applying for one or two of these as a backup?
Sorry this is so epic, I just know the strain involved with the whole horror of auditioning but it seriously is worth it when you get that acceptance letter.
If you have any more specific questions let me know and good luck