This is certainly my understanding.
I agree totally.
My knowledge in this area is limited. However one daughter was very good at music, and at one point was very committed to music. She had a sign “music = life” on the wall in her bedroom. She was in a four person a capella group, and one of the other people in the group went on to get a degree in musical theater. At least for him making a career out of musical theater appears to be more of a challenge compared to getting accepted to a strong program and graduating with a bachelor’s degree.
Also, while my daughter was still intending to major in music we visited a professor of music who we know, who introduced us to another professor who had originally been his student, had graduated with a bachelor’s degree in voice, had gone on to be a dancer and singer on Broadway, and had discovered that the pay is low, New York is expensive, and you get tired of singing the same songs every night. This particular person had gone back to university to get a PhD, and was a professor of music at the time that we talked to her (and had a good job in a beautiful location with moderate living costs and was doing well).
The same daughter then went on a music tour of Europe and discovered that she too got tired of playing the same songs every day and that she did not like the travel. She switched directions (while still in high school) and is now two months away from being a DVM (perhaps another path that is not for the faint of heart).
Another relative graduated from a well known school as a dance major. She is being successful as a dancer, including both dancing and teaching. She has at times taken a job as a cook in a restaurant so I doubt that the dancing part pays all that well.
I would avoid debt for any bachelor’s degree related to music or dance or musical theater. If the student does take on any debt, assume that the parents will end up paying it off.
If you wanted to look a bit further to the north, there are a few small schools in Canada which might be worth looking at. Bishop’s University in Lennoxville Quebec is one option (some knowledge of French might be needed to graduate – they can teach this). Acadia University in Nova Scotia is very good for music, although I do not know whether they have a bachelor’s degree specifically in musical theatre. The small universities in eastern Canada tend to be relatively reasonably priced for international students although I am not sure what they currently cost (keep the exchange rate in mind).
When one daughter was considering majoring in music I wasn’t too worried about university admissions because I thought that getting accepted to a bachelor’s degree program was going to be easier compared to actually making a living after graduating with a bachelor’s degree. I still think that this is true.