* Selective college/university: This term is generally used for institutions that have highly competitive admission processes, with low acceptance rates and rigorous academic standards.
* Competitive college/university: Similar to "selective," but perhaps slightly less stringent.
* Institution with entrance examinations: This describes schools requiring standardized tests like the SAT or ACT as part of their application.
* Institution with application requirements: This is a very broad term, encompassing all postsecondary schools, since all require *some* form of application and associated requirements.
Therefore, the best term depends on the *specificity* of the requirements you want to emphasize. If you're talking about schools with high standards and low acceptance rates, "selective college/university" is appropriate. If you need a more general term, "postsecondary institution" or even just "college/university" will suffice, keeping in mind that all of these have admission requirements.