See, a good engineer I know, who studied in University of Missouri Rolla. Their CS degree is not all that different from a big name, as far as curriculum is concerned, but many HR departments won't recognize the place, especially if it's a company from the coasts. If you don't find a way to break through that social class, the best you can hope for is a Midwest Enterprise company, which will not pay as well, and will not teach as well. Then your resume will be thrown away at many hip companies, because working at such companies is seen as a negative, not as a positive: To climb out of a good education with a bad name to a place that pays top dollar can be a huge struggle. If instead you go to the Right University, you can then move on to the Right Company, and you can keep working at said places, or get venture capital to start your own thing, because you were already in the inside track. That's what you are paying for at the coastal university, not a dramatically superior education.
You are right though, in that there are many degrees that are terrible investments in all but the topmost universities. You'd be surprised by the kind of companies that will interview you anyway if you have an irrelevant degree from Harvard.