MIT ranks fourth among national universities and first in undergraduate engineering, according to U.S. News & World Report's annual rankings released today.
In the overall university rankings, MIT shares the number four slot with Stanford. Harvard, Princeton and Yale, respectively, are ranked the top three schools.
MIT has held the top spot in the magazine's overall undergraduate engineering rankings for more than twenty years. Specialized engineering disciplines at MIT that U.S. News also ranked as the nation's best this year include aeronautics and astronautics, chemical, electrical and computer science, and mechanical. MIT's rankings in biomedical and environmental engineering also increased.
The MIT Sloan School of Management's undergraduate business program ranked overall as the nation's second best, unchanged from last year. MIT also took top honors for its undergraduate business specialties in production and operations management, management information systems, quantitative analysis, and supply chain management.
The U.S. News ranking formula gives greatest weight to the opinions of those in a position to judge a school's undergraduate academic excellence. The peer assessment survey allows presidents, provosts, and deans of admissions to account for intangibles such as faculty dedication to teaching.
Ranked by its peer universities in this category, MIT shared top and equal standing with Harvard and Stanford.
Among other key criteria for judging schools is selectivity as gauged by acceptance rate (MIT tied for second) and financial resources (MIT was ranked third).
The magazine rated MIT among the top 10 most racially diverse universities in America. The Institute also tied for fourth as the nation's most economically diverse university, as determined by the percentage of students receiving Pell grants.
Finally, the report judged an MIT education to be a great value. MIT ranked fourth among national universities in a measure of price relative to quality; last year, the Institute ranked fifth.
In March, MIT announced increases in financial aid that will make it possible for a larger fraction of MIT students to have their tuition and fees completely covered. Under the new plan, which takes effect in the 2008-2009 academic year, families earning less than $75,000 a year will have all tuition covered.