By this I mean specifically small liberal arts colleges, usually without any graduate students, such as Pomona, Wellesley, Vassar, Claremont McKenna, or Swarthmore.
Note what Loren Pope, in his book Colleges That Change Lives, has to say about liberal arts colleges:
The colleges in this book have one primary mission: educate the undergraduate.
The little-known truth is that these colleges have been on the cutting edge of higher education for decades. Many of them have outperformed most of the rankings sweethearts in the percentages of graduates who become America’s scientists and scholars.
The reason that professors send their children to liberal arts colleges is because that’s where undergraduates get the best education.