No matter where you look for college rankings, the Ivy League universities often come out on top. Despite their high cost and exclusivity, these schools are known for producing successful graduates with high earning potential. However, Forbes recently compiled a list of colleges that are not in the Ivy League but are considered to be on par with these prestigious institutions. These schools, known as the “New Ivies,” were chosen based on their exclusivity and positive outcomes for students. Forbes grouped both public and private schools separately, excluding military schools and those with less than 4,000 students.
Among the public colleges that Forbes considers to be “New Ivies” are Georgia Institute of Technology, University of Michigan—Ann Arbor, University of Virginia, Binghamton University, and University of Florida. These schools have relatively affordable tuition costs for out-of-state students and high median earnings for their graduates. On the private side, Forbes highlights Carnegie Mellon University, University of Notre Dame, Rice University, Georgetown University, and University of Southern California as schools that offer a college experience comparable to the Ivy League. These schools also have high median earnings for their graduates, with several seeing many alumni go on to earn six-figure salaries.
While private colleges, including the Ivy League institutions, are typically more expensive than public schools, they often provide generous financial aid packages for students with demonstrated need. This can make the cost of attendance more manageable for students from all backgrounds. The high cost of tuition at private schools is often offset by the potential for graduates to earn high salaries, similar to those who attend Ivy League institutions. For example, several of the private “New Ivies” listed by Forbes have median earnings above $100,000 10 years after their students start college.
Ultimately, while an Ivy League education may offer prestige and high earning potential, there are many other colleges and universities that can provide a great college experience and lead to successful outcomes for graduates. Forbes’ list of “New Ivies” showcases a diverse group of schools that excel in terms of exclusivity, student outcomes, and post-graduation earnings. Whether you choose to attend a public or private institution, there are many paths to success in higher education that do not require acceptance into one of the elite Ivy League universities.
