Most people have heard of Ivy League colleges, yet some are still unsure of these institutions’ role in the collegiate world. Ivy League schools, also known as “The Ancient Eight” are a group of private institutions which comprise the athletic conference known as the Ivy League.
While Ivy League technically refers to the athletic components of the schools, the term has evolved over the years to include the schools’ famously highly selective admissions processes, stringent academic standards, and often socially elitist behavior. The eight schools included in the Ivy League are Yale University, the University of Pennsylvania, Princeton University, Harvard University, Dartmouth College, Cornell University, Columbia University, and Brown University.
Seven of the eight schools (excluding Cornell University) were founded during the colonial period, and these schools are famous for their extremely large financial endowments, ranging from Brown’s $2.2 billion to Harvard’s $27.4 billion, the largest financial endowment for any academic institution in the world.