ranked fourth in the United States for the percentage of its graduates who earn a PhD.
== History ==
The Reed Institute (the legal name of the college) was founded in 1908 and held its first classes in 1911. Reed is named for Oregon pioneers Simeon Gannett Reed (1830–1895) and Amanda Reed (died 1904). Simeon was an entrepreneur involved in several enterprises, including trade on the Willamette and Columbia Rivers with his close friend and associate, former Portland Mayor William S. Ladd. Unitarian minister Thomas Lamb Eliot, who knew the Reeds from the church choir, is credited with convincing Reed of the need for the school. Reed's will provided for the gift, and Ladd's son, William Mead Ladd, donated 40 acres from the Ladd Estate Company to build the new college. Reed's first president (1910–1919) was William Trufant Foster, a former professor at Bates College and Bowdoin College.
Reed was founded explicitly as a reaction against the "prevailing model of East Coast, Ivy League education", its lack of varsity …
