That quote asserts that SAT scores are the same as prestige. The 1998 and 1999 drafts of the paper looked at both, with different results, finding that average SAT score didn't matter, but various measures of prestige did. They have three versions of prestige: variance of SAT scores, Barron's ratings, and tuition. Variance is dropped in the 2002 published version. Tuition still predicts income. The most direct measure of prestige, rankings, seems to be quietly dropped in the few months between the 1998 and 1999 versions (am I missing something?). The final version seems to say on 1515, in a weirdly off-hand manner, that it doesn't matter, but I'm not sure if it's the same measure.