College rankings are under fire. Is there a better way to rate the value of a degree?

A growing chorus of critics is questioning how the media and other groups rank the nation's colleges, arguing that such lists help neither students nor their families and may obscure better ways of judging the quality of higher education.

Millions of high school seniors are currently picking colleges to apply to this fall, with applications due between November and January for enrollment in the 2023-24 academic year. 

Colleges, meanwhile, inundate prospective applicants each fall with materials touting their top placement on U.S. News & World Report's annual college rankings: "#1 in teaching year after year," proclaims Carlton College, linking to its rank at U.S. News & World Report. "Top 20: Rutgers rises in the national rankings," the New Jersey public university says on its website.