The University of Texas at Austin has scored a top-50 spot among Forbes' annual list of America's Top Colleges. Three more Austin-area institutions – St. Edward's University, Southwestern University in Georgetown, and Texas State University in San Marcos – were also recognized on the list.

The ranking highlights 500 colleges and universities throughout the country that "produce successful, high-earning and influential graduates from all economic backgrounds, with less student debt." Rankings are determined based on each school's "return on investment," the average student debt, and graduate outcomes.

Massachusetts Institute of Technology (MIT) topped the list this year, followed by Columbia University in New York (No. 2) and Princeton University in New Jersey (No. 3).

UT Austin ranked as the 46th best college nationwide, and it ranked No. 2 in a Texas-wide comparison. This public university has a 29 percent acceptance rate and an undergraduate population of nearly 56,000 students.

Forbes says the total cost to attend UT Austin adds up to $62,672 per year, and the university's average grant aid amounts to $12,060. Forbes also found that students graduate with about $6,066 in debt on average.

"Annual events include Forty Acres Fest which is a campus-wide festival featuring over 100 student organizations, live music, food and games; and Texas Revue which is a talent show that comes with a grand prize of $1,500," the university's profile says. "Originally built as a library and standing at 307 feet tall, the UT Tower lights up orange after every sports win to signal pride. Additionally, numbers are created on the tower through lighting including a 1 for national championships, a jersey number for a Heisman winner, or the last two digits of a graduating class."

Forbes also touts the university's famous alumni, which include Matthew McConaughey, Owen Wilson, former First Lady Laura Bush, and Neil deGrasse Tyson.

UT Austin has also ranked as Forbes' 9th best university in the South, and the 39th best research university.

Here's where Austin's three other top universities landed on Forbes' list of the 500 best American colleges:

• No. 293 – St. Edward's University
• No. 304 – Southwestern University, Georgetown
• No. 408 – Texas State University, San Marcos

"Over the past eight months, President Donald Trump, his administration, and Congressional Republicans have waged financial and cultural war on higher education — freezing research funds, punishing efforts at campus diversity, constricting the flow of foreign students, raising the tax on some college endowments and curbing the generosity of student loan programs," the report says. "Despite this, American colleges are still delivering gold-standard undergraduate education."

Only three other Texas universities made it among the top 100: Rice University in Houston (No. 12), Texas A&M University in College Station (No. 61), and Trinity University in San Antonio (No. 82).

The 16 remaining Texas universities that ranked outside the top 100 include:

• No. 103 – Southern Methodist University, Dallas
• No. 107 – University of Houston
• No. 120 – Texas Christian University, Fort Worth
• No. 141 – University of Texas, Dallas
• No. 161 – Texas Tech University, Lubbock
• No. 188 – Baylor University, Waco
• No. 238 – University of North Texas, Denton
• No. 246 – University of Texas, Arlington
• No. 300 – University of Texas at San Antonio
• No. 342 – University of Houston, Clear Lake
• No. 354 – University of St. Thomas, Houston
• No. 359 – University of Texas, El Paso
• No. 419 – Austin College, Sherman
• No. 422 – University of Dallas
• No. 437 – Abilene Christian University
• No. 449 – University of Texas, Rio Grande Valley