Why are some good (and expensive) schools called ivy league schools?

Answer 1

Check out this link for more information about Ivy League schools, a very select group of 8 schools that fall under this "umbrella." Brown, Columbia, Yale, Harvard, Princeton, UPenn, Cornell, Dartmouth are those eight schools. There are any number of colleges/universities who's educations are on par with -- or superior to -- these schools, but this group carries a particuar cache and expectation of excellence.

http://en.wikipedia.org/wiki/Ivy_League