The best colleges and universities in the US have rejected a record number of aspiring matriculants in what has turned out to be the most competitive year ever for young people seeking entrance to a top-tier school.

With acceptance letters being sent out over the next few days, admissions officers at Ivy League universities and elite liberal arts colleges say their acceptance rates will drop several percentage points this year in the face of a bulging population of qualified candidates, as well as a marked increase in overseas applicants.