The University of Colorado dropped three spots in the Peace Corps volunteer rankings this year after economic growth provided more options to students, university officials announced Tuesday. 

After two consecutive years at No. 1, CU's Boulder campus ranks No. 4 this year, with 93 alumni currently serving around the world, down from 112 last year, said Peter Simons director of the Institute for Ethical and Civic Engagement. 

"Interest in the Peace Corps remains very high," Simons said. "The only thing I can speculate is that as the economy gets better students start to have a few more choices." 

Simons said more job offers could be leading to fewer volunteers at CU-Boulder and other universities. 

The University of Washington and the University of Florida ranked No. 1 with 107 volunteers each. The University of Wisconsin-Madison ranked No. 3 with 103 volunteers and the University of Michigan tied with CU for No. 4 with 93 volunteers. 

Despite the slight drop in volunteers, CU has ranked in the top four for the last 10 years and is the fifth highest-producing university of all time, with 2,353 undergraduate alumni having served in the Peace Corps since it was established in 1961.