Yale University is situated in the New Haven, Connecticut. It is an American private Ivy League research University. The University is founded in 1701 in the colony of Connecticut. It was name as Yale to honor a gift from Elihu Yale in the year 1718. This University is known to be the third oldest institute of higher education in the United States. Yale has more than 1000 faculties and staffs to teach and guide about 5,300 undergraduates and 6,100 graduates and professional students. The sports team of the University, the Yale Bulldogs competes in the NCCA Division I Ivy league. It is known for its heavy rivalry with the Harvard University. The University holds more than 42 Nobel Laureates as staffs, students and faculties. The Yale libraries consist of 12.5 million volumes of books and it is spread in more than two dozen libraries. There are 12 residential colleges so far present in the University and two more are yet to build. Education in US, especially in Yale University is unique in the state of Connecticut, since it is the only University present in it. The U.S. News & World Report ranked the University third among the national Universities in the year 2012.