ASU inches up list of best colleges

Arizona State University has moved up three slots to No. 121 in a widely watched ranking of American colleges and is listed as an "up-and-coming school," a new category that recognizes universities that have made striking improvements or innovations.

The annual rankings of 262 universities were released by U.S. News & World Report.

ASU President Michael Crow said rankings are a sensitive issue because they tend to favor elite institutions but is pleased where ASU ended up.

"We are where we would like to be," he says.