Institutions, including collegiate schools of music, tell stories about the ways in which they have transformed to include and support diverse students, but what do students say about their institution? Collegiate music students possess powerful and intimate knowledge, and their stories can reveal the lived reality of their experiences of equity and justice within the institution. The purpose of this study was to gain understanding of the ways in which music students experience equity and inequity within their school of music and to learn from them how their institution as a system impacts their experiences. The research puzzle comprised, in part, the following questions: In what ways do music students experience equity and inequity?; What institutionalized systems facilitate or hinder their sense of inclusion?; How do their stories bump up against the stories the institution tells itself about equity?To explore these questions, I engaged in a qualitative study grounded in narrative inquiry that placed the counterstories of music students in dialogue with the story of diversity and inclusion as told by their collegiate institution. Eight university music students who each self-identify as being from a marginalized group participated in conversations and ongoing dialogue with me. As this study was premised on promoting equity, participants collaborated in the writing and selection of their narratives. Placing the students’ stories and the institution’s story of equity side by side highlighted the misalignment between the institution’s espoused values and the students’ experiences. The stories raised further questions, such as: How and when do students feel silenced or empowered to speak? What makes it possible for them to challenge an institution (or not)? How do students want faculty and administrators to engage with them? In what ways does their engagement in issues of equity and justice make them susceptible to risk, and what is the risk? Through narrative inquiry, I contribute a complex and nuanced understanding of how one institution, including its school of music, perpetuates oppressive practices, opening space for students who live these experiences to lead the interrogation of—and resistance within—this and similar places.