As someone who's had the opportunity to go through a pile of 100+ resumes and have met people who have gone to Ivy League (or other top technical schools like Stanford, UC Berkeley, MIT, etc) I definitely do not put too much weight on education (even for new grads). As a software engineer I'd rather put weight on their projects and accomplishments. I've seen a lot of students from prestigious schools with high GPAs who completely bomb the in person interviews.