In the comments, Brad Feld of Foundry Group said he prefers it to be last. Mark stated that this is a point of disagreement between them.
I don't see what the advantage is for someone to put up front that they went to some vc's rival school or something equally prejudicial.
If you're pitching to a VC who refuses to work with Harvard grads because he/she went to Yale, you're probably pitching the wrong VC...
Well, the thing is that an up-front bio is going to necessarily expose you to these prejudices (which do exist), that's why I ask what the advantage might be (and to who). The article pretty much handwaves this concern with an "it'll be better" type sentiment.