The Ivy League is an athletic conference comprising eight private institutions of higher education in the Northeastern United States. The term is most commonly used to refer to those eight schools considered as a group. The term also has connotations of academic excellence, selectivity in admissions, and social elitism. The term became official, especially in sports terminology, after the formation of the NCAA Division I athletic conference in 1954, when much of the nation polarized around favorite college teams. The use of the phrase is no longer limited to athletics, and now represents an educational philosophy inherent to the nation's oldest schools. In addition, Ivy League schools are often viewed by the public as some of the most prestigious universities worldwide and are often ranked amongst the best universities in the United States and worldwide. All of the Ivy League's institutions place near the top in the U.S.