Are these schools 'The New Ivies'? Ten elite universities that won't break the bank

The Ivy League has long been exalted as the cream of the crop when it comes to American universities, but could a new set of schools be closing in on their turf as the dream schools of the country's high-achieving kids?

As education costs soar, parents and students may feel pressure to break the bank on a small set of elite schools. 

However, new data has revealed that the most expensive private universities are not necessarily those that correlate with the highest average earning. The study found that 'flagship' public colleges produced grads with comparable or higher earnings - sometimes known as the 'Hidden Ivies.'

Forbes confirmed the study's findings and released a list naming the 'new ivies' - 10 private and 10 public school that have favorable reputations amongst employers for producing skilled job candidates. 

While the 20 schools have similarly competitive admission rates to the eight ivy league universities, the main difference is the price tag - and while ivies charge an average yearly tuition of $64,829 (without housing, food, books etc.) - these colleges are significantly less expensive, NBC reported.

The average tuition for first year students at the 10 most-affordable 'new ivies' is over $20,000 less - at $42,233 for out-of-state students. Recipients of financial aid at these schools pay an average of $15,436 according to College Scorecard. 

1. University of Florida

• Out-of-state tuition: $28,658
• Average net price: $6,275

2. University of North Carolina - Chapel Hill

• Out-of-state tuition: $39,228
• Average net price: $12,414 

3. Georgia Institute of Technology

• Out-of-state tuition: $32,940
• Average net price: $14,588

4. Rice University 

• Out-of-state tuition: $62,874 
• Average net price: $15,091

5. University of Illinois Urbana - Champaign

• Out-of-state tuition: $36,760 - $44,664 (varies based on major)
• Average net price: $16,109

6. University of Maryland - College Park

• Out-of-state tuition: $39,464  
• Average net price: $16,590

7. University of Michigan - Ann Arbor

• Out-of-state tuition: $27,864 (figure reflects 2023-24 tuition price, 2024-25 price not available)  
• Average net price: $16,792

8. University of Wisconsin - Madison

• Out-of-state tuition: $42,104  
• Average net price: $16,834

9. University of Texas - Austin

• Out-of-state tuition: $40,582 - $48,712 (varies based on major)  
• Average net price: $18,850

10. Johns Hopkins University 

• Out-of-state tuition: $64,730 
• Average net price: $20,820