Princeton University has topped Forbes' list of America's 500 best colleges for the second year running, excelling across all 14 metrics used to assess educational, financial and career outcomes. Stanford, MIT, Yale and UC Berkeley rounded out the top five.

Princeton also claimed the overall top spot in the latest WSJ/College Pulse ranking of U.S. colleges for the second consecutive year.

But it's not just Princeton making waves — a notable trend this year is the increasing representation of historically Black colleges and universities on the list, according to Forbes' list. Six HBCUs made the top 500, up from just three last year.

Additionally, new sublists cater to specific student needs. This year, Forbes introduced a list of the top 50 small colleges for those seeking a more intimate academic environment. Wellesley College and Williams College, both Massachusetts schools with undergraduate populations under 4,000, topped that list.

Other sublists include the top 25 public colleges, top 25 private colleges with generous financial aid, and the top 25 schools offering the best return on investment.