University of the Pacific ranks No. 3 in California among all private and public universities for “Best Value” in an undergraduate college education, trailing only Stanford University and Cal Tech, according to the newest ranking by U.S. News & World Report.

Nationally, Pacific is No. 44 on a list topped by Harvard, Princeton, MIT, Stanford and Yale.

U.S. News calculates “Best Value” by analyzing both a school’s academic quality and the cost to attend.

“The higher the quality of the program and the lower the cost, the better the deal,” the magazine said. “Only schools ranked in or near the top half of their categories are included because U.S. News considers the most significant values to be among colleges that are above average academically.”

President Christopher Callahan said a college education “is one of the biggest investments most families will make in their lifetimes. This analysis will help families measure not just costs, but how those costs relate to the return on their important investment in their daughters and sons.

“We are very proud that in a state with some of the very best private and public schools in the world—from UCLA and Cal to USC and the Claremont colleges—that Pacific is providing such great value to our students and their families,” the president said.

The new U.S. News rankings also placed Pacific No. 44 among all colleges and universities nationally—and in the Top 10 among private schools—in social mobility, which measures the success of students who come from lower-income families.

“A college education remains the single greatest determinant of socioeconomic advancement in America today,” said Callahan, who himself is a first-generation college graduate. “We are proud at Pacific to be able to serve, support and advance students from all walks of life.”

Earlier this month, The Wall Street Journal ranked Pacific No. 36 in social mobility.

In the same Wall Street Journal study, Pacific received its overall highest ever national ranking—No. 87—among all top institutions, large and small, public and private.

The university’s success and rise in the national rankings is reflected in its growth. While many universities around the country are struggling to enroll students, Pacific had a record enrollment for the second consecutive year, with 6,944 students across the university’s three Northern California campuses in Sacramento, San Francisco and Stockton.

Pacific is investing in new facilities and academic programs to accommodate the growth.

Two new world-class biology labs just opened to create more opportunities for students interested in careers in health care, including dentists, doctors, nurses and pharmacists, and earlier this year new academic buildings opened to meet the growing demand for programs in physician assistant and nursing.

Pacific launched six academic programs over the past year, including bachelor’s degrees in data science, pharmaceutical science and general studies and master’s degrees in nutrition science, regulatory science and counseling psychology.

New recreational facilities also were added, including the country’s first pickleball and padel complex on a college campus, a cricket pitch and esports gaming center.

Initiatives launched at the start of the fall semester include a common read program and the Presidential Speaker Series to help students become thoughtful leaders and global citizens.

Pacific achieved Hispanic-Serving Institution status from the U.S. Department of Education earlier this year. The university also is an Asian American and Native American Pacific Islander-Serving Institution.

There are more than 80 undergraduate and 50 graduate and professional programs across Pacific’s three campuses.