I went to a cal state and paid 7k a year in tuition. 3 years later I am making around 300k TC at a FAANG. Everyone who graduated with me seems to be doing pretty well judging by LinkedIn.
I know quite a few people who went to various California public colleges and universities and earn that much. In tech, it's the choice of major, not the university, that really matters -- and even companies that have policies of only hiring from certain universities tend to apply that only to new grads.
I know several people who have succeeded in tech in staff+/leadership roles without any college degree at all!
In law, and medicine, and academia in general? Sure, your pedigree matters. But in tech, and in many engineering fields, a state school degree is all you need.
The reality is that most CS programs even in mid tier state schools weed out the worst to the point that the average grad is definitely making well over 100K per year 2 years out of school.
I saw this with my own school. I have a hard time finding any graduates from my program who aren't gainfully employed right now.
Sure, that's the point: most get weeded out. Whether that is in freshman year of college, or kids struggling with calc 1 in their senior year of high school.
CS degrees aren't like business degrees. It's much harder. Hence, many don't do it, despite the huge financial advantages of doing it.