While not in the narrow categorziation of personal financial topics, college and college rankings certainly have a large impact on personal financial matters. They cost alot, and have a potential impact on your salary.

Some liberal arts colleges are apparently trying to boycott the annual U.S. News ranking.  I have to say I agree with them.  Now that I’m nearly 15 year removed from making a decision about which school to attend, I find the rankings less than useful. I’m not naive to think that rankings don’t have a place. They do. Where your college “ranks” does matter. It might matter less than you think, but employers do care. Graduate schools care. I’m not sure if they care specfically about the U.S. News World Report ranking however.

One problem I’v always had with U.S. New ranking is the sheer amount movement that sometimes occurs year to year. The quality of a school does not change that much year to year.  The sytem can be gamed as well. The other problem I have is that the guide is really hardly a guide. It might serve as bragging rights for kid’s parent but that’s about it. It doesn’t serve to inform. I know because I probably had against my better instincts a slavish devotion to the rankings. I like numbers. So if you’re student or a parent of a student, choose a good school, but don’t get caught up with the difference between a school ranked 10th vs. 5th.