NiH Funding University of Alabama at Birmingham

also noticed awards - does that boost a school's reputation? Had no idea UW Madison was so up there, pretty neat.
 
Undergrad schools - no
Medical schools - not by itself. When you look at the most commonly viewed rankings (USNWR), NIH funding is a significant part of what makes up that ranking, but does not by itself make a school reputable. However, it is true that in general, the most reputable medical schools tend to have the most NIH money.
 
The answer to this depends on what you want. If you are interested in research or thinking about a PhD, NIH funding can be a good thing to look for because it means that there is a lot of research coming out of that university. More research = more opportunities for students to get involved with research. Some people argue that this can also help for medical school admissions because places with a lot of NIH funding tend to have better name recognition and because you may end up working with someone who has big connections in the medical field.

That being said, for most undergrads, it's much more important to find a college that is a good fit for you. Do they have classes and majors you like? How about sports/greek life/local hobbies? What is the city/weather like? In my opinion, questions like that are the most important to consider when choosing an undergraduate school.
 
Top