What degrees, licenses, and credentials can i get when majoring in theater?

You can get a college degree! But very few schools will promise you an Equity or SAG-AFTRA card by just going to class, or at all. Those need to be earned outside of school in a professional environment. For the Actors Studio Drama School in NYC which offers Masters Degrees in Acting, Playwrighting and Directing, you will graduate as a Working Observer at the Actors Studio, but you will need to audition with them for Lifetime Member status or even to maintain your Working Observer Status.