America's 25 new 'Ivies'

You could call it a classic case of supply meeting demand. A generation ago, elite schools were a clearly defined group: the eight schools in the Ivy League, along with such academic powerhouses as Stanford, the University of Chicago, MIT and Caltech. Smaller liberal-arts colleges—like Williams, Amherst, Middlebury, Swarthmore and Wesleyan—were the destinations of choice for top students who preferred a more intimate campus. But in the past few decades, the number of college-bound students has skyrocketed, and so has the number of world-class schools. The demand for an excellent education has created an ever-expanding supply of big and small campuses that provide great academics and first-rate faculties.