The Rule of Four - by Ian Caldwell & Dustin Thomason. Complex, but still interesting to follow the path of the four Princeton students in trying to unravel a mystery and eventually simply stay alive! This is not an Eric Segal "Love Story" book.

One of my all time favorite books, which is not really taking place at an Ivy League school but could have been, is The Secret History by Donna Tartt. It is set in a Northeastern prep school, I have read this book like five times and it always delivers.

"Stover At Yale," by Owen Johnson (1911). Often mocked, rarely read, it's actually a savage satire of conformism, and wonderful social history. Don't miss the you've-wasted-four-years peroration near the end.

The Group, by Mary McCarthy, I think.

I second The Secret History and The Rule of Four.

Curtis Sittenfeld's "Prep" isn't set specifically at one of those schools but the vibe is exactly right...

yes "the Secret History" by Tartt is great

"Commencement" by J. Courtney Sullivan takes place at Smith College. As an alum, I can say that it is very accurate.

Second The Group. Also, The Bell Jar by Sylvia Plath includes a lot of stuff about Smith

I agree with Naomi G - The Secret History. So great I read it twice!

Secret History was a great summer book for me last year. You are reminding me to pass it on and get it off my shelf!
Another one I just read about is Commencement. Anyone read this?

You could also read the series of Secret Society Girls by Diana Peterfreund. Very charming

The Ivy series by Lauren Kunze in collaboration with Rina Onur!!! Its a fictional series about a California girl having to deal with Harvard's rich bitches and hot guys not to mention exclusive clubs at the nation's best university. The authors actually went to Harvard. It is one of my favorite series right now.