In the United States, higher education is an optional stage of formal learning following secondary education. It is also referred to as post-secondary education, third-stage, third-level, or tertiary education. It covers stages 5 to 8 on the International ISCED 2011 scale. It is delivered at 3,931 Title IV degree-granting institutions, known as colleges or universities. These may be public or private universities, research universities, liberal arts colleges, community colleges, or for-profit colleges. U.S. higher education is loosely regulated by the government and by several third-party organizations and is in the process of being even more decentralized.
Post secondary (college, university) attendance was relatively rare through the early 20th century. Since the decades following World War II, however, attending college or university has been thought of as "a rite of passage" to which the American Dream is deeply embedded. Nonetheless, there is a growing skepticism of higher education in the U.S. and its value to consumers. U.S. higher education has also been criticized for encouraging a financial preference for the most prestigious institutions (e.g., Ivy League schools) over less selective institutions (e.g., community colleges).