Reflecting on the
2024 Forbes
College Rankings

August 30, 2024

The 2024 Forbes College Rankings are out, and this year's list brings some new developments. For the second consecutive year, Princeton University holds the #1 spot, leading the way with exceptional performance across all 14 metrics that Forbes uses to evaluate the best American colleges. One of Princeton's most impressive statistics is its 97% six-year graduation rate for low-income students.

However, this year's rankings also highlight other noteworthy trends. Rice University's leap from #22 to #9 is particularly striking, marking its first appearance in the top ten. Forbes attributes this rise to the university's low student debt among graduates—a crucial factor for many families as the cost of higher education continues to climb. 

Another notable trend is the growing recognition of historically black colleges and universities (HBCUs). With six HBCUs earning spots in the top 500—double the number from last year—Forbes is acknowledging the increasing appeal and impact of these institutions. This comes at a time when diversity efforts face challenges at some state universities, making the recognition of HBCUs even more significant.

California schools also made a strong showing in the 2024 Forbes rankings, reflecting the state's reputation as a hub for top-tier higher education. Stanford University remains a powerhouse, consistently ranking near the top, while the University of California, Berkeley, continues to excel. The University of California, Los Angeles (UCLA) and the University of Southern California (USC) also secured spots in the top 25, highlighting the diversity and quality of higher education available in the Golden State. 

Forbes has also taken a unique approach this year by highlighting excellent schools with more accessible admissions rates, alleviating some of the anxiety high school students face when applying to colleges. With 38 of the top 100 schools admitting more than 30% of applicants and 16 of those accepting 50% or more, Forbes is showcasing that quality education is within reach at schools beyond the ultra-selective institutions like Princeton, Stanford, or MIT.

While college rankings can offer valuable insights, it is essential for applicants to prioritize finding schools that are the best fit for their unique needs, wants, and circumstances rather than relying solely on rankings. Each student has different academic interests, career goals, financial considerations, and personal preferences, all of which are crucial in determining the right college for them. A school that ranks highly might be an excellent fit for one student but may not suit another's aspirations or circumstances. By focusing on what truly matters to you—whether it's the strength of a specific program, campus culture, location, or financial aid opportunities—you can identify colleges where you will thrive both academically and personally. 

Remember, the best college is the one that aligns with your individual goals and supports your success.

Forbes uses 14 distinct criteria to rank America's top colleges, focusing on various aspects of educational quality, financial stability, and career outcomes. 

Alumni Salary (20%)
This measures the median earnings of graduates six and ten years after graduation, using data from Payscale and College Scorecard.

Debt (15%)
Evaluates the typical debt load through the debt and percent borrowed index, and the five-year repayment rate of federal loans.

Graduation Rate (15%)
Assesses the six-year graduation rate for all students, with additional emphasis on Pell Grant recipients to reward colleges that successfully graduate low-income students.

Forbes American Leaders List (15%)
Counts the number of notable leaders and successful individuals (e.g., Forbes 30 Under 30, Nobel Prize winners) who are alumni of the institution.

Return on Investment (15%)
Analyzes the financial return of obtaining a degree by comparing the net price of education to post-graduation earnings, particularly for low-income students.

Retention Rate (10%)
Uses a three-year average to measure the percentage of students who continue their studies after their first year, indicating student satisfaction and institutional stability.

Academic Success (10%)
Tracks the number of graduates who have received prestigious scholarships (e.g., Fulbright, Rhodes) and those who have gone on to earn Ph.Ds.

Remember that all college rankings are based on specific criteria that may not align with your own priorities. When considering which colleges you want to apply to, reflect on what factors are most important to you—whether it's location, academic programs, campus culture, or financial aid. Rankings can be a helpful tool to get you started, but they should not be the sole factor. The best fit for one student may not be the best fit for another, so approach these lists with a critical eye.

These are the top 50 out of 500 American colleges ranked by Forbes. 

1. Princeton University, NJ

2. Stanford University, CA

3. Massachusetts Institute of Technology, MA

4. Yale University, CT

5. University of California, Berkeley, CA

6. Columbia University, NY

7. University of Pennsylvania, PA

8. Harvard University, MA

9. Rice University, TX

10. Cornell University, NY

11. Northwestern University, IL

12. Johns Hopkins University, MD

13. University of California, Los Angeles, CA

14. University of Chicago, IL

15. Vanderbilt University, TN

16. Dartmouth College, NH

17. Williams College, MA

18. Brown University, RI

19. Claremont McKenna College, CA

20. Duke University, NC

21. University of California, San Diego, CA

22. California Institute of Technology, CA

23. Wellesley College, MA

24. Amherst College, MA

25. Bowdoin College, ME

26. University of Florida, FL

27. Swarthmore College, PA

28. University of Southern California, CA

29. University of Michigan, Ann Arbor, MI

30. Washington University in St. Louis, MO

31. University of North Carolina, Chapel Hill, NC

32. Georgetown University, DC

33. Emory University, GA

34. University of Virginia, VA

35. University of California, Santa Barbara, CA

36. Brigham Young University, UT

37. Pomona College, CA

38. Georgia Institute of Technology, GA

39. University of California, Irvine, CA

40. University of Illinois, Urbana-Champaign, IL

41. University of Maryland, College Park, MD

42. University of Notre Dame, IN

43. University of California, Davis, CA

44. University of Washington, Seattle, WA

45. Colgate University, NY

46. University of Texas, Austin, TX

47. Washington and Lee University, VA

48. Davidson College, NC

49. New York University, NY

50. University of Wisconsin, Madison, WI

Click here to access Forbes' complete list.

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