I went to college in the city (at Marymount, actually) and graduated with honors- as did countless others. NYC is a fantastic place to go to school, full of amazing resources and opportunities totally unknown to other colleges in other places- especially if you're in theatre. You can see Broadway-caliber shows for free at the Delacorte, take advantage of the Lincoln Center's archives, find new works at the Drama Book Shop, and see everything from Tony-winning musicals to avant garde theatre in some basement. The Japan Society regularly hosts theatrical productions from Japan, which you would never be able to see unless you head to that country. The Public, Signature Theatre, Playwrights Horizons, Soho Rep, NYTW.... all indispensable institutions for the advancement of theatre in the nation, and all in Manhattan, and all with affordable tickets and other opportunities .
The city has so many amazing things to offer students of virtually every major that other cities simply cannot. A focused, intelligent student will come out of their NYC college life with a host of experiences.
One of my favorite restaurants is Kashkaval on 56th and 9th. Great wine and tapas bar, with delicious cheese fondue- and very reasonably priced. Wonderful for dates or pre/post-show meals.
"...everyone finally shut up, and the audience could enjoy the beginning of the Anatevka Pogram in peace."