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root comments on Open thread, Jul. 18 - Jul. 24, 2016 - Less Wrong Discussion
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This may be true if you want to go into research or in primarily reputation-based fields like politics and law. In engineering or technology, you'll be totally fine and get a reasonable job with a degree from other universities. Maybe in the US it's not worth the fees, but that's a different matter and does not apply in many countries.
To clarify, what I meant was: Are the famous, top n, or <exceptional metric here> places for education do provide a substantially better outcome for their students on average in comparison to less exceptional ones?