The much-awaited Forbes’ List of America’s Top Colleges was released on August 27th, 2024. What began as a column way back in 2008 has grown to become one of the nation’s most trusted sources for students and parents to make their decisions regarding college choices. College rankings have become highly dynamic in the past few years, especially post-COVID-19. This is akin to the game of snakes and ladders, with each year presenting some surprising outcomes. This year’s list is indicative of a similar trend. While Princeton continues to hold the top position, the unexpected addition to the top 10 is Rice University. It is now ranked at Number 9, rising from 22 in the previous year’s report. Some colleges have slipped from their earlier highs, Duke has marginally gone down from 17 to 20 and quite a few have triumphantly moved up like Claremont McKenna College from 41 to 19.
Arguably one of the most renowned magazines in the world, Forbes reaches millions of people across all platforms. The magazine’s reputation for bringing incisive news to a highly informed audience adds credibility to its college listings.
Forbes considers the following measures in their ranking:
Forbes’s college rankings weigh alumni salary (20%) from Payscale and College Scorecard, assessing graduates’ median earnings six and ten years after graduation. The Debt (15%) and Percent Borrowed Index and the Five-Year Repayment Rate measure debt. Graduation Rate (15%) considers the six-year graduation rate, reflecting various student circumstances. The Forbes American Leaders List (15%) tracks leadership and entrepreneurial success through alumni who appear on Forbes’ notable lists. Return on Investment (15%) is calculated by dividing the net cost of a degree by the earnings boost over high school graduates. Retention Rate (10%) measures the percentage of students who stay after their freshman year. Finally, Academic Success (10%) is based on the number of prestigious scholarships won and the average number of Ph.D. graduates from each college.
How to Use the Forbes List in Your College Search
Starting Point
The Forbes list is a great starting point for potential college applicants. A quick scan will introduce students and parents to universities that may have once been “off the radar.” The Forbes list also provides a profile for each listed college, including information on student demographics, cost of attending, access to financial aid, composite SAT score, and gender and ethnicity breakdown.
Affordability of the School
The emphasis on student debt and return on investment separates the Forbes list from other US college rankings. By emphasizing post-graduate success and the generosity of a school’s financial aid, parents get a better sense of the affordability of each university. However, remember that access to financial aid may be limited to American nationals.
Personal Fit
The Forbes list can give a rough idea of the reputations of different colleges—although, as discussed above, universities can jump rankings within a year—but it is important to consider the applicant’s priorities and financial situation alongside the rankings. The Forbes list places a lot of emphasis on post-graduate success, which is valuable but may not apply to all applicants. A six-figure USD salary may not be a top priority for applicants seeking post-graduate public service or education jobs. Taking a step back from the ranking and investigating the schools individually is needed to identify the best fit. Other factors an applicant may consider include urban/rural settings, community, specialized programs, extracurricular offerings, class sizes, research opportunities, etc
The Rise of “New Ivies”
Whichever methodology one may employ, it will be difficult not to find some of the Ivies featured at the top of the list. However, In the past year, chaotic college disruptions, followed by the cancellation of ceremonies and the rise in tuition fees, have led Forbes to look at a new set of public and private universities. According to editors, Forbes compiled an “exclusive survey” of hiring managers to help identify ten public universities and ten private ones that are “turning out the smart, driven graduates craved by employers of all types.” The idea that one will get an excellent education only in the traditional 8 Ivies is far from the truth. The editors call this list the “New Ivies.” Students from these Private and Public universities are some of the smartest, equally hard-working, and sought-after employees. Notably, three Midwestern schools, The University of Illinois Urbana-Champaign, The University of Michigan-Ann Arbor, and the University of Wisconsin-Madison, have made it to the list.
Forbes’s complete list of “Public” and “Private Ivies” can be found below:
| PUBLIC IVIES |
| Binghamton University – New York |
| Georgie Institute of Technology – Georgia |
| University of Florida – Florida |
| University of Illinois Urbana-Champaign- Illinois |
| University of Maryland – College Park |
| University of Michigan – Ann Arbor |
| University of North Carolina – Chapel Hill |
| University of Texas – Austin |
| University of Virginia – Virginia |
| University of Wisconsin – Madison |
| PRIVATE IVIES |
| Boston College – Massachusetts |
| Carnegie Mellon University – Pennsylvania |
| Emory University – Georgia |
| Georgetown University – District of Columbia |
| Johns Hopkins University – Maryland |
| Northwestern University – Illinois |
| Rice University – Texas |
| University of Notre Dame – Indiana |
| University of Southern California – California |
| Vanderbilt University – Tennessee |
Beyond the Numbers
Finally, numbers provide little insight into a campus’s feel and culture. Potential applicants must attend information sessions, talk to alumni and current students, and visit the colleges they are interested in. Some students want the “typical” American college experience that can take shape through extensive Greek systems or schools in urban settings. At the same time, other applicants may prefer isolated campuses set within more scenic and idyllic environs, with small class sizes dedicated exclusively to undergraduate students.
The Role of University Counseling Services
Narrowing down and investigating a list of 20 schools can be daunting. Here at Ivy Central, we are familiar with changes in rankings within the Forbes list (as well as other lists) and the reasons behind them. Different students thrive or underperform depending on their environment, and finding the perfect fit is our most important criterion. A college must fulfill applicants’ personal, academic, and extracurricular needs.
University counselors can help students interpret rankings and align them with their individual preferences. We are familiar with which colleges have outstanding programs within an applicant’s choice of major(s), something that the rankings do not and cannot reflect. We recognize that comparing a small liberal arts college limited to undergrads like Williams (ranked #17) to a large research university with a significant graduate population, such as the University of Pennsylvania (at #7), is senseless because they both provide very different academic experiences.
Conclusion
Rankings like the Forbes List are helpful as a general guide, alongside the other factors considered while investigating colleges. However, over-dependence on rankings may lead you to potentially miss out on considering colleges that are a perfect fit for you. With its emphasis on financial affordability, the Forbes List is a valuable measure of prestige and post-graduate.
Ultimately, college is what you make of it. The college application process is less about finding success by getting into a high-ranked school; it is about understanding one’s definition of success and exploring opportunities that can fulfill one’s intellectual potential. The best college is one that aligns with one’s values, goals, and aspirations.
You can check out the entire listing here: Forbes America’s Top Colleges List 2025 – Best US Universities Ranked
