i concur with firefly; the name of an elite university opens many more doors as long as one ends up with a reasonable okay grade. it's not just about academic abilities and IQ; companies hire such graduates because they are generally assumed to have enjoyed greater exposure and thus developed broader perspectives, maturity, a global outlook, the skills to work/lead on international teams, and high-value networks, just to name a few. but of course as zerofire says, if one fails to cultivate/exercise all these assets then it will show sooner or later.

moreover, studying overseas at an elite institution has alot to do with life experience too, in addition to money-making potential. in other words, the life experience is a huge return on the investment; and this is something that is much more difficult to replace than money. but of course sometimes, life experience is too much of a luxury that only the rich can afford.