I don't buy it.

I went to one of the most expensive private not-for-profit schools in the US (top 20 net-cost, going by http://collegecost.ed.gov/catc/#) and had exactly fuck-all for scholarships. I didn't shell out anywhere near $250k.

Are you assuming med school or something? As far as I can tell, the median debt for med school grads from private schools is barely half of $250k. The most expensive I can find still falls short (barely, to be fair): http://grad-schools.usnews.rankingsandreviews.com/best-gradu...

California is so large it has many great public schools, but other states like Virginia (UVA and William & Mary) have public schools that rival the best in California, and most large states have an elite public school (Texas, Michigan, UNC, Georgia Tech, etc etc) that would be top tier in California. To some degree, California's support for its universities has slipped and the reputation is based on the past.

Yup. I grew up in Arkansas. Our highest--and only ranked university--is ranked #138. The smartest students leave the state, as you can see from the SAT/ACT score ranges at in-state schools. I went to a top university and took out many loans to do so... had I lived in a state like Texas or California, I would have had access to a fantastic state school and not need to do so.