Here's how I see it, plain and simple:

• Best: excellent student gets degree from top-tier school
• Better: excellent student gets degree from so-so school
• Good: average student gets degree from top-tier school
• Almost as good: average student gets degree from so-so school

There is no denying that where you go to school matters.  Ever wonder why Stanford accepts only 9% of its applicants while most schools labor hard to attract students?  Name of the school matters, period. 

Having said that, the name of your top-tier school is good only for few years into your career because it will open doors but not help you walk in.  After 5 years from graduation, what you have done so far matters more than where you went to school.

Also, let me add, name matters.... up to a point.  I know of Harvard graduate(s) who could not get a job despite his Hahvahd education.  I also know of graduates from so-called 3rd-tier schools who are doing very very well professionally, economically and socially.

So, my friends, it's up to you to how good a lemonade you make with the lemon you get.