University of North Carolina School of the Arts
Winston Salem, North Carolina · Public · 30.0% acceptance rate
ROI Score: 25/100 · Poor Value
Data: 2024-25 College Scorecard release
The University of North Carolina School of the Arts scores 25 (Poor Value) on the CampusROI scale. This score requires context: UNCSA is a specialized conservatory whose graduates pursue arts careers with earnings that do not match those of general university graduates. The financial case is blunt - $28,100 median 6-year earnings, a 59.5-year payback period, a debt-to-earnings ratio of 0.849, and a 67.8% repayment rate. The completion rate of 77.8% is the strongest sub-score and reflects the institution's conservatory rigor: students who are admitted and commit to the program tend to finish. In-state tuition of $9,477 and a net price of $14,906 make UNCSA among the most affordable conservatories in the country - a genuine public arts access point. Film/Video (75 graduates, $24,053 year-one, F-grade), Drama/Theatre (90 graduates, $21,229 year-one, F-grade), and Dance (34 graduates, $14,201 year-one, F-grade) all carry F-grade debt-to-earnings ratios. Music (30 graduates, $34,022 four-year, ROI grade C) is the strongest program in the data. Students choosing UNCSA are not primarily making a financial decision - they are making a vocational and artistic commitment. The ROI score reflects what the Scorecard measures; it does not measure artistic achievement, career longevity in the arts, or non-financial satisfaction.
The data raises concerns about University of North Carolina School of the Arts
These metrics fall below the thresholds most financial advisors recommend for a sound college investment. Review them carefully before committing.
- ROI Score25/100 - Poor Value tier (below 45). Most 4-year schools we track score 60 or higher.
- Payback period>50 years - Graduates earn at or near the level of high school completers - the cost may not recoup within a working career.
University of North Carolina School of the Arts
Quick Numbers
| In-state tuition + fees | $9,477/yr |
| Out-of-state tuition + fees | $27,211/yr |
| Average net price | $14,906/yr |
| Total 4-year cost (net) | $59,624 |
| Median earnings (10yr post-entry) | $38,357 |
| Median earnings (6yr post-entry) | $28,100 |
| Median debt at graduation | $23,870 |
| Estimated monthly loan payment | $253 |
| Estimated payback period | >50 years |
| 6-year graduation rate | 77.8% |
| Undergraduate enrollment | 945 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The first number you'll see is the sticker price: $9,477/year ($27,211/year out-of-state). Here's the part that matters - almost nobody pays that. After grants, scholarships, and aid, the average student here pays a net price of $14,906/year, or roughly $59,624 over four years. That's the number to plan around.
What you actually pay depends a lot on what your family earns. Families making under $30,000/year pay an average of $3,165/year here, while families earning over $110,000 pay $25,172/year. If money is tight, that matters: this school gives low-income students enough aid to land well below the sticker price.
Most students borrow to get here. The median graduate leaves owing $23,870 in federal loans, which works out to about $253 a month on the standard 10-year repayment plan. Hold that up against the $38,357 the typical graduate earns ten years out: the debt-to-earnings ratio comes to 0.85, within the range advisors call workable but worth keeping an eye on.
Net Price by Family Income
What families actually pay after grants and scholarships, by income bracket.
| Family Income | Avg Net Price/Year |
|---|---|
| $0 - $30,000 | $3,165 |
| $30,001 - $48,000 | $7,828 |
| $48,001 - $75,000 | $11,491 |
| $75,001 - $110,000 | $20,173 |
| $110,001+ | $25,172 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Students in the 0-30000 income bracket pay $3,165 net price per year - approximately $12,660 over four years. The 30001-48000 bracket pays $7,828. These are among the lowest net prices in our dataset for any conservatory-level institution, reflecting the North Carolina public university mission. For low-income students with genuine professional arts talent, UNCSA at $3,000-$8,000 per year is the most affordable route to conservatory training available at this level of instruction quality.
Middle-income families ($30K-$110K)
The 48001-75000 bracket pays $11,491 per year; the 75001-110000 bracket pays $20,173. Aid declines sharply as income rises. Middle-income families paying $11,000-$20,000 per year for conservatory training will see a financial return that the Scorecard earnings data characterizes as poor, but this is the price of professional arts training that would cost $60,000+ per year at equivalent private conservatories.
Higher-income families ($110K+)
The 110001-plus bracket pays $25,172 per year - $100,688 all-in. For full-pay families, UNCSA is still a bargain relative to private conservatories like Julliard, Curtis, or the Boston Conservatory. The 59.5-year payback period and F-grade program ROI reflect the earnings structure of arts careers - not the quality of the training or the career prospects of the most talented graduates.
Earnings by Major
Top 4 most popular majors at University of North Carolina School of the Arts with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Drama/Theatre Arts and Stagecraft | $48,664 | F |
| Film/Video and Photographic Arts | $41,000 | F |
| Dance | $32,463 | F |
| Music | $34,022 | C |
Earnings reflect median 4-year post-completion (or 1-year where 4-year unavailable). Grades based on debt-to-earnings ratio.
Program Analysis
Why these programs deliver their earnings outcomes.
Music
Music is UNCSA's strongest-performing program in Scorecard data: 30 graduates, $34,022 four-year median earnings, debt-to-earnings ratio of 0.680 (ROI grade C). Year-one data is not reported. The C grade reflects that music graduates - performing artists, educators, and music directors - reach earnings in the mid-$30k range by four years post-graduation, which is below average for college graduates but above the Dance and Theatre tracks. Median debt of $23,143 is modest relative to the conservatory setting.
Film/Video and Photographic Arts
Film/Video is the highest-volume program at UNCSA with 75 graduates. Year-one earnings of $24,053 and four-year of $41,000 produce a debt-to-earnings ratio of 1.123 (ROI grade F). Graduates carry $27,000 median debt against $24k year-one earnings - a ratio that makes the first years of repayment genuinely difficult. The four-year trajectory to $41k suggests most film graduates find footholds in the industry, but the early earnings gap is real. UNCSA's film program is nationally respected; the financial reality for early-career film professionals reflects industry-wide earnings patterns.
Drama/Theatre Arts and Stagecraft
Drama/Theatre has 90 graduates - the largest single program by count. Year-one earnings of $21,229 and four-year of $48,664 produce a debt-to-earnings ratio of 1.158 (ROI grade F). The four-year trajectory to $49k is actually encouraging - theatre graduates who establish careers see meaningful earnings growth from a very low starting point. Median debt of $24,592 against $21k year-one earnings creates genuine early-career financial pressure. This is the vocational risk that pre-professional theatre training carries, and admitted students should plan their debt accordingly.
Dance
Dance has 34 graduates with $14,201 year-one earnings and $32,463 four-year - the lowest earnings figures in our dataset of 30 schools. Debt-to-earnings ratio of 1.620 (ROI grade F) against $23,000 median debt. Dance is a field with extremely compressed professional earnings and short career windows for performers. Students who choose dance at UNCSA should minimize debt aggressively - the Scorecard data reflects the financial reality of professional dance employment, not a calibration error.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Nat'l Avg |
|---|---|---|
| 1-year repayment | 63.7% | 52.0% |
| 3-year repayment | 67.8% | 62.0% |
| 5-year repayment | 65.2% | 68.0% |
| 7-year repayment | 68.7% | 72.0% |
Completion Rate
Trends Over Time
How University of North Carolina School of the Arts’s cost and outcomes have moved across College Scorecard releases (2009-2023).
Average Net Price
Completion Rate
Median Earnings, 10 Years After Entry (as reported)
Earnings reflect borrowers measured 10 years after entry and publish on an irregular cadence with a multi-year reporting lag, so this series shows only the years the Department of Education reported - the data is never interpolated.
Source: U.S. Department of Education College Scorecard, release years shown. Net price and completion are reported annually.
Admissions Snapshot
| Acceptance rate | 30.0% |
| SAT Math (25th-75th) | 540-650 |
| SAT Reading (25th-75th) | 600-720 |
| ACT Composite (25th-75th) | 22-29 |
| Enrollment | 945 |
| Pell Grant recipients | 26.3% |
| Avg faculty salary (monthly) | $8,980 |
At 30.0%, UNCSA is selectively admitting students based primarily on artistic audition and portfolio review, not just academic credentials. SAT mid-ranges (540-650 Math, 600-720 Reading) are surprisingly strong for an arts conservatory, suggesting UNCSA attracts well-rounded applicants. The 30% admit rate reflects genuine artistic screening. Students who are admitted are among the top conservatory candidates in their field nationally.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
UNCSA's Scorecard peers include Appalachian State University, East Carolina University, Henderson State University, Adams State University, and Salish Kootenai College - the Scorecard peer matching algorithm places UNCSA alongside general public universities with similar enrollment sizes, not comparable conservatories. A more meaningful peer set would include Berklee College of Music, California Institute of the Arts, and Savannah College of Art and Design. UNCSA (ROI 25) sits in the Poor Value tier as a conservatory by Scorecard metrics, but the appropriate comparison is within arts-specialized institutions where the earnings tradeoff is an accepted feature of the sector.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| University of North Carolina School of the Arts (this school) | 25 | $14,906 | $38,357 |
| East Carolina University | 61 | $15,739 | $55,146 |
| Appalachian State University | 58 | $16,836 | $51,836 |
| Adams State University | 29 | $12,980 | $44,372 |
| Henderson State University | 25 | $23,405 | $43,459 |
| Salish Kootenai College | 18 | $7,945 | $32,725 |
Who Thrives Here
UNCSA admits 30.0% of applicants and enrolls 945 students in Winston-Salem, North Carolina. SAT mid-ranges are 540-650 Math and 600-720 Reading - higher than the earnings data might suggest, reflecting the selective admissions process and the academic preparation UNCSA expects alongside artistic audition. The Pell grant rate of 26.3% indicates moderate economic diversity. Students admitted to UNCSA are talented pre-professional artists who have already accepted the tradeoffs of conservatory education. The financial profile here is not a warning to disqualified students; it is an accurate depiction of arts earnings that admitted students should understand clearly before borrowing.
The Verdict: The Numbers Don't Add Up
We'll be straight with you: the numbers at University of North Carolina School of the Arts are a real concern. With a net cost of $14,906 per year and the typical graduate earning only $38,357 ten years out, the estimated payback period exceeds >50 years. For most students, the financial return does not justify the cost - go in with your eyes open.
What it has going for it: its 77.8% graduation rate. What to keep an eye on: weak earnings relative to cost, high debt relative to what graduates earn, concerning loan repayment rates, a long payback period.
Median debt of $23,870 against $38,357 in earnings is reasonable, though your major matters a lot here. Graduates in higher-earning fields will see the better end of this.
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Data: College Scorecard API (U.S. Department of Education)
Vintage: 2024-2025 · Last updated: 2026-03-25
Earnings reflect median outcomes for all federal financial aid recipients. Individual results vary by major, effort, and career path.