verb (used with object), overrated, overrating.
to rate or appraise too highly; overestimate: I think you overrate their political influence.

1580–90; over- + rate1

overpraise, overesteem, magnify.
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Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
overrate (ˌəʊvəˈreɪt)
(tr) to assess too highly

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Word Origin & History

1611, from over + rate (v.).
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
In my experience college degrees are extremely overrated.
One of its main themes will be that the effect of globalisation has been
The rumors of a weblog nation may be vastly overrated.
College nowadays is no bargain, and is highly overrated.
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