College students looking for an exemplary education in Texas can still apply to this consistently high-ranking Austin university before its early action deadline on November 1.

It's perfect timing, as The University of Texas at Austinhas earned the No. 2 spot in WalletHub's 2024 ranking of the best colleges and universities in Texas. This also comes after recent accolades from education review platform Niche and rankings publication U.S. News and World Report.

The personal finance experts analyzed more than 800 colleges and universities in the United States using 30 metrics to determine their rankings.

UT Austin earned second place in the categories for the best acceptance rates (26.44 percent in 2023) and graduation rates (72.2 percent in 2020), and third place for post-attendance median salary. In the categories for gender and racial diversity and on-campus crime, the public institution earned No. 4 and No. 5, respectively.

According to U.S. News and World Report, UT Austin's in-state tuition and fees cost $11,698, while out-of-state tuition costs $41,070.

Gerardo L. Blanco, an associate professor at Boston College, provided some advice for prospective students aiming to graduate college with minimal debt and significant job prospects in their chosen degree field. He advised that students learn the difference between a university's "sticker price" versus the net price after financial aid. It could be particularly useful for students planning for a post-secondary education at institutions like UT Austin.

"There are public universities, both flagship and regional, that offer great value for money," Blanco said. "Many private non-profit institutions are committed to promoting access and, even with higher sticker prices, offer generous financial aid."

In WalletHub's regional ranking of best universities in the South, UT Austin earned No. 9. The only Texas school to outrank UT Austin was Rice University, also known as Houston's "Ivy League of the South."

Out of the top 500 universities in the nation, UT Austin ranked No. 46. Yale University took the No. 1 spot in the country, followed by Massachusetts Institute of Technology (No. 2), Princeton University in New Jersey (No. 3), and California Institute of Technology (No. 4). Harvard University in Massachusetts rounded out the top five.

The top 10 colleges and universities in Texas are:

• No. 1 – Rice University, Houston
• No. 2 – The University of Texas at Austin
• No. 3 – Trinity University, San Antonio
• No. 4 – Texas A&M University-College Station
• No. 5 – Southwestern University
• No. 6 – Southern Methodist University
• No. 7 – University of Dallas
• No. 8 – Austin College
• No. 9 – LeTourneau University
• No. 10 – Texas Christian University