by our College Data Analytics Team
[Musical Theater](/majors/visual-and-performing-arts/drama-and-theater-arts/musical-theater/) programs reward a close look at where your money goes furthest. A high-value program keeps cost low while graduates go on to earn well.
College Factual analyzed 11 schools to build this 2026 ranking of the best value musical theater schools.
What’s on this page:
Learn about start dates, transferring credits, availability of financial aid, and more by contacting the universities below.
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If you want to know which schools deliver the best value for the musical theater degrees they offer, see the list below.
Leading the list is Millikin University, our #1 best value for musical theater in Illinois. Set in the city of Decatur, Millikin University is a small private not-for-profit institution. In-state tuition and fees average $26,792. Typical student debt for musical theater graduates is $27,000. Early-career musical theater graduates make about $24,013. Weighed against typical debt, the earnings make a compelling case for value. Roughly 67% of applicants are accepted.
Students looking for strong value in musical theater will find it at Aurora University, which ranked #2. Aurora University is a moderately-sized private not-for-profit school located in the suburb of Aurora. Students from in state pay about $29,170 in tuition and fees. Musical Theater graduates carry a median of $24,507 in student loans. Musical Theater graduates of Aurora University earn a median of $51,483 early in their careers. Set against $24,507 in median debt, that is a healthy payoff. Roughly 81% of applicants are accepted.
The strong cost-to-outcome balance at Roosevelt University earned it the #3 place for musical theater. Located in the city of Chicago, Roosevelt University is a mid-sized private not-for-profit university. The average in-state cost of tuition and fees is $21,315. Students borrow a median of $26,000 to complete the musical theater program here. Early-career musical theater graduates make about $21,001. Set against $26,000 in median debt, that is a healthy payoff. Roughly 97% of applicants are accepted.
The strong cost-to-outcome balance at North Central College earned it the #4 place for musical theater. Set in the city of Naperville, North Central College is a mid-sized private not-for-profit institution. Students from in state pay about $45,726 in tuition and fees. Typical student debt for musical theater graduates is $21,000. Early-career musical theater graduates make about $20,416. Weighed against typical debt, the earnings make a compelling case for value. Roughly 77% of applicants are accepted.
Students looking for strong value in musical theater will find it at Columbia College Chicago, which ranked #5. Set in the city of Chicago, Columbia College Chicago is a moderately-sized private not-for-profit institution. The average in-state cost of tuition and fees is $34,088. Typical student debt for musical theater graduates is $26,977. Soon after graduation, musical theater degree recipients from Columbia College Chicago generally make around $17,929. Set against $26,977 in median debt, that is a healthy payoff. Columbia College Chicago admits about 90% of applicants.
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Northwestern University came in at #6 for value in musical theater this year. Northwestern University is a very large private not-for-profit school located in the city of Evanston. Expect in-state tuition and fees of around $68,322. Students borrow a median of $17,000 to complete the musical theater program here. Musical Theater graduates of Northwestern University earn a median of $78,551 early in their careers. Weighed against typical debt, the earnings make a compelling case for value. Roughly 8% of applicants are accepted.
Illinois Wesleyan University earned the #7 position for value in musical theater this year. Set in the city of Bloomington, Illinois Wesleyan University is a small private not-for-profit institution. Students from in state pay about $57,704 in tuition and fees. Students borrow a median of $27,000 to complete the musical theater program here. Musical Theater graduates of Illinois Wesleyan University earn a median of $19,490 early in their careers. Set against $27,000 in median debt, that is a healthy payoff. Roughly 39% of applicants are accepted.
This list is compiled by College Factual (MF_RANKING_2025), 2026 edition. The methodology weighs the cost of a degree against the earnings graduates go on to achieve, drawn primarily from the U.S. Department of Education (IPEDS and College Scorecard).
Ranking method: College Major Best Value · 11 schools evaluated.
*Averages shown above reflect the top 4 ranked schools only.
More about our data sources and methodologies.
