Centre College (my undergrad) is known for its small & close-knit community, difficult classes, real grades, and graduating only 75% of each class. That's why I chose to go there. Unlike many who get into schools which work under the (US News encouraged) principle that if you are good enough to get into [fill in so-called elite institution] you are good enough to graduate, I know I earned my grades and my degree.
Centre has a reputation for alumni loyalty. For years and years it was known for having the #1 percentage of alumni donations. Then a sad day came and we faded into second or third for reasons best left unaired for a few years. Now we're back on top and the alumni relations office is making sure we all know it (look carefully at the yellow). That's pretty cool.