Jansing and Co   |  July 24, 2013

Forbes releases annual ranking of top colleges

Forbes Executive Editor Michael Noer discusses the annual survey of top American colleges based on student satisfaction, post-graduate success, student debt and other criteria.

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This content comes from Closed Captioning that was broadcast along with this program.

>>> we got something for you that just came out this hour. "forbes" magazine releasing annual ranking of top u.s. colleges. top five. number five columbia university and yale and third is princeton. pomona college is clairmont, california, is next outside of los angeles . number one is stanford university . these are out in the latest issue of "forbes" as well. we are joined by their executive editor michael nor. pomona college , where? what? how?

>> pomona is an outstanding school outside of los angeles . it's part of the clairmont college system. i think there are five schools in that system. two top schools on our list this year on the west coast . stanford is number one and that's never happened before. the first ivy is in third place. ivy tend not to do as well as on our list as u.s. news and world report .

>> how is pomona get there at number two because a lot of people don't know what it is.

>> it's a small college and they tend to do well on our list. we look at educational outcomes. we don't look at the number of students accept are high scoring. we look at what the school does for them. do they go on to get good jobs. do they rank their professors good? do they graduate in four years?

>> there are the rankings and your criteria and you're starting to get into that. five areas?

>> yes, five different areas.

>> break it down for us more.

>> we look at whether or not the students go on to do well in life. get high paying jobs and win competitive awards and scholarships. do they get out of debt? people go to school and broke with a degree they didn't want and we look whether they graduate within four years.

>> that is the postgraduate success at 37.5%, right?

>> that is salary and other measures of career success. the nationally competitive award.

>> so want to be on the list and they bend the truth.

>> they don't bend the truth, they outright lie.

>> tell us how it is, michael !

>> they have knitted to lying to the federal government about their s.a.t. scores or their incoming classes, where their kids ranked and other things and what is interesting they are doing that purely to boost their performance on these rankings because these rankings are so important these schools. higher rank means you have better quality students and better alumni giving and all of these things.

>> why are the rankings so important? we have so many out there.

>> when you're buying a college education you're spending a lot of money. maybe $225,000. you can get a harvard legal of education at a good state school and good state school education at harvard. it's what you bring into it. since you don't know exactly what you're buying, outside viewpoint is crucial for consumers.

>> i argue it identifies the newcomers you might consider in the future. you got new features that help parents make a choice, right? a little engine?

>> we have a new college screening tool you can find at forbes.com slash colleges and takes a look at your academic perform answer aance and your income.

>> thanks, michael .