American public education is operated by state and local governments, regulated by the United States Department of Education through restrictions on federal grants. There are also local community colleges with generally more open admission policies, shorter academic programs, and lower tuition.
Higher education in USA is often at one of the 4,495 colleges or universities and junior colleges in the country. Like high school, the four undergraduate grades are commonly called freshman, sophomore, junior, and senior years (alternatively called first year, second year, etc.).
The universities of USA are among some of the top universities in the world; Stanford University, Harvard University, and Massachusetts Institute of Technology (MIT) are all ranked in the global top 10 in the 2013 QS World University Rankings, with Massachusetts ranked first.
The USA has had a total of 350 Nobel Prize winners to-date. With few of the recent winners Robert J. Shiller (Economics 2013) Lars Peter Hansen (Economics 2013) and Eugene F. Fama(Economics,2013).