[QuercusMax]

That may be true immediately out of college. But if you go to a state school, do well, work in industry for a few years, then apply to Google, you may be just as well off, and paid just as well without the student loans from an expensive school. (I graduated from Kent State with no loans in 2004, and now work for an Alphabet company.)

[argonaut]

Sure, if you would have to take out loans to go to a top school, go to your state school. But many students don't have to take out loans (finaid?), and for them the elite schools are a better choice if they can get in.