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.
For its 2026 best-value ranking, College Factual looked at 9 schools to find the best return on investment for musical theater students.
What’s on this page:
Learn about start dates, transferring credits, availability of financial aid, and more by contacting the universities below.
Earn the music business degree that fits into the business world – and partners Southern New Hampshire University with world-renowned Berklee College of Music.
Below are the schools that deliver the strongest value in musical theater, balancing cost against outcomes.
Stephens College earned the #1 spot for value among musical theater schools in Missouri. Stephens College is a small private not-for-profit school located in the city of Columbia. In-state tuition and fees average $28,300. Students borrow a median of $27,000 to complete the musical theater program here. Early-career musical theater graduates make about $16,476. Weighed against typical debt, the earnings make a compelling case for value. Stephens College admits about 77% of applicants.
The strong cost-to-outcome balance at Webster University earned it the #2 place for musical theater. Set in the suburb of Saint Louis, Webster University is a large private not-for-profit institution. In-state tuition and fees average $31,750. Students borrow a median of $26,000 to complete the musical theater program here. Musical Theater graduates of Webster University earn a median of $13,182 early in their careers. Set against $26,000 in median debt, that is a healthy payoff. Roughly 86% of applicants are accepted.
1
2
The ranking above is published by College Factual (MF_RANKING_2025), 2026 edition. Schools are scored on the balance of cost (tuition and student debt) against student outcomes (post-graduation earnings) — a measure of return on investment, drawn primarily from the U.S. Department of Education (IPEDS and College Scorecard).
Ranking method: College Major Best Value · 9 schools evaluated.
*Averages shown above reflect the top 2 ranked schools only.
More about our data sources and methodologies.
