What the student gains from college is up to the student themselves. But if a student tries just as hard at Standford for example, compared to some other, smaller school, then the rate at which they succeed or find top notch jobs/internships is much higher than the other student. Basically, the name branding gained through a school like Stanford is a catalyst towards success. It is achievable everywhere, but the rate at which it is gained is different and the name of your university does make a difference there.