[cykros]

Agreed -- having a degree is important; having it from a prestigious/expensive university, for most people, is quite often much less so.

Obvious exceptions exist; we don't typically see presidential candidates who came from a community college. But most of the time, the degree is there more to show you could commit to a more self-directed educational experience than high school, and follow through with it while not usually under your parent's roof. Executive functioning, basically. Show some engagement in clubs, sports, or other activities for a bonus.

In many fields, if anything beyond this is expected, they want a graduate degree anyway, and this is where it can pay to splurge on the name, depending on your field.