The College of Bards is on the Isle of Bards.

The College isn't so much of a college as it is a Guild, where multiple "troupes" gather, practice, and perform in their private theaters located within the building.

Those troupes compete in performances and ranked by their peers in a bracketed competition. The troupe that wins this competition is named "Lead Troupe", or (the more formal) "Princeps Caterva," and the artistic director of said troupe given the title of "Headmaster", or (again, the more formal) "Dux Catervae."

Residents of the Isle of Bards routinely gamble on these brackets each season.