A college education is one of the most important, and one of the most costly investments you may ever make. For this reason, many people want as much information possible about the comparative merits of the educational programs at different universities. College rankings can serve as an objective guide by which you can compare the academic quality of schools and find the one that is best for you.
There is no single source of "official" college rankings, although many groups and publications do their own ratings wherein each school's rank is based on the same set of accepted measures of academic quality, such as graduation rates, the college's endowment, and peer assessment surveys, chosen after careful reporting and research by that publication on what they feel is important in measuring quality in education. Rankings may be helpful to you because they rate the strength of the academic program at each undergraduate institutions, and as such, college rankings can give you information on a key factor to consider when choosing a college.
College academic rankings are very important to a lot of prospective students, as a diploma from a distinguished college helps graduates get good jobs and gain admission to top graduate programs. Also, considering college rankings can be helpful to you as it condenses a great deal of information about the quality of the education at each school, making it easier to compare institutions and select the one that will be best for you. But remember, you need to investigate colleges carefully in terms of your own needs and goals as well, and the criteria for college ranking may not always be relevant to your needs or desires.