That's true, but a lot of people think the school you attend matters. For example, in the context of hiring, if you have 2 otherwise candidates but you can only choose one, most people would choose the person who went to Stanford over the guy who taught himself to code or attended a lesser respected school (in most cases). Some companies are stupid enough to only hire people from fancy schools. I think Google did something like this for a while, but thankfully they stopped.

Thus, attending a fancy school is a big advantage if you've got the money or have another way to get in.

Yep, I've seen more than a few job postings over the years stating some version of "Must hold a degree from a Top 10 school." Who would want to work with a bunch of elitist jerks, anyway?

> There are many many unemployed useless Stanford, MIT, Harvard graduates in this world.

Is this really true?

All the statistics I've read suggest otherwise.

Well, there is a lot of graduates from those universities to begin with, so it's only logical that there is a certain amount of useless graduates that end up unemployed. The same logic applies to the rest of humanity.

The real question is whether those graduates are more likely to be useless and unemployed than people who did not graduate from the same universities.