Princeton University has topped the list of best national universities by US news.
The private Ivy League research university is the first institution in the country to launch a "no loan" policy to the financially needy students, both national and international. The school provides grants instead of loans to eligible students to help pay tuition. About 60 percent of the Class of 2013 received financial aid with an average grant amount of $36,000.
US News ranked the Universities using data on nearly 1,800 American instituitions. The data included 16 measures of academic excellence, including graduation rates and freshmen retention rates.
Following Princeton is Harvard University, considered to be one of the most prestigious universities in the world. This oldest higher education institution has the largest endowment of any school in the world.
Recently, the family of Gerald Chan - a Harvard-educated investor - made a gift of $350 million to the university's School of Public Health. The donation is considered to be the largest gift in the richest university's 378-year history.
"The Chan family's commitment to education and their belief in the power of public health is an inspiration, and their generosity will ensure we have the resources to continue to develop the most innovative solutions that will enable millions of people to live longer and healthier lives, now and in the future," Harvard School of Public Health Dean Julio Frenk said in a statement.
At No.3 is Harvard's fellow Ivy League member - Yale University.
The University's assets include an estimated at $20.8 billion in 2013, the second-largest of any academic institution in the world. The Yale University Library holds over 15 million volumes and is the third-largest academic library in the United States.
The fourth position is shared by three universities - Columbia, Stanford and University of Chicago. Columbia School provides housing for all four years on campus in Manhattan's Morningside Heights neighborhood in New York City.
Top 10 American Universities
1. Princeton University (NJ)
2. Harvard University (MA)
3. Yale University (CT)
4. Columbia University (NY)
4. Stanford University (CA)
4. University of Chicago (IL)
7. Massachusetts Institute of Technology
8. Duke University (NC)
8. University of Pennsylvania
10. California Institute of Technology
