William & Mary is something unusual: a genuinely rigorous public liberal arts college that happens to be the second-oldest institution in America. You're getting an elite education without the private school price tag or the pervasive grade competition. The academics are legitimately strong across the board, and the faculty take teaching seriously. Williamsburg is a real place with history embedded in the landscape, which shapes how you think about American culture and politics.
You'll find a student body that's more engaged than the average state school but less frantically ambitious than peers at Princeton or Duke. The social scene is healthy without being overwhelming, and the traditions (which run deep) create genuine community. The honor code shapes student culture in meaningful ways. Access to research is excellent, and the outcomes for grad school placement and employment are consistently strong.
The tradeoff is that William & Mary is still a public school, which means budget constraints and some administrative bloat. The location in Williamsburg is pleasant but not urban, limiting certain kinds of opportunities. The student body is still predominantly white and fairly wealthy, which is gradually shifting but remains a reality. You're choosing a school that delivers exceptional value and genuinely rigorous education, but with fewer of the prestige markers of Harvard or Yale. If you care more about actual learning than the name, William & Mary is a remarkably solid choice.