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 after a wave of scandals and rising tuition costs, a new set of far more affordable schools is closing in on their turf. 

And with new data revealing how even the most expensive education does not always parlay into a high salary, families are looking elsewhere. 

Forbes has now released a list naming the 'new Ivies'. 

The average tuition for first year students at the 10 most-affordable 'new Ivies' is $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

Pictured: The University of Florida

• Out-of-state tuition: $28,658 per year
• In-state with financial aid: $6,275 per year

2. University of North Carolina - Chapel Hill

Pictured: The University of North Carolina Chapel Hill Seal in brick walk way

• Out-of-state tuition: $39,228 per year
• In-state with financial aid: $12,414 per year

3. Georgia Institute of Technology

Pictured: View of the campus of the Georgia Institute of Technology

• Out-of-state tuition: $32,940 per year
• In-state with financial aid: $14,588 per year

4. Rice University 

Pictured: Rice University in Houston, Texas

• Out-of-state tuition: $62,874 per year
• In-state with financial aid: $15,091 per year

5. University of Illinois Urbana - Champaign

Pictured: University of Illinois college campus quad in Urbana Champaign Illinois

• Out-of-state tuition: $36,760 - $44,664 per year (varies based on major)
• In-state with financial aid: $16,109 per year

6. University of Maryland - College Park

Pictured: The University of Maryland

• Out-of-state tuition: $39,464  per year
• In-state with financial aid: $16,590 per year

7. University of Michigan - Ann Arbor

Pictured: The University of Michigan

• Out-of-state tuition: $27,864 per year (figure reflects 2023-24 tuition price, 2024-25 price not available)  
• In-state with financial aid: $16,792 per year

8. University of Wisconsin - Madison

Pictured: The University of Wisconsin - Madison

• Out-of-state tuition: $42,104  per year
• In-state with financial aid: $16,834 per year

9. University of Texas - Austin

Pictured: The Main Building (known colloquially as The Tower) - a structure at the center of the University of Texas at Austin campus

• Out-of-state tuition: $40,582 - $48,712 per year (varies based on major)  
• In-state with financial aid: $18,850 per year

10. Johns Hopkins University 

Pictured: Johns Hopkins University

• Out-of-state tuition: $64,730 per year
• In-state with financial aid: $20,820 per year