This is exactly the myth this report tried to explode.
The thing is that girl appears to have followed your advice to the letter. I don't mean this to sound callous, but I suspect this girl is prone to making bad decisions and exceedingly mediocre in most categories that would help her get a job. One could make the argument that college was not right for this girl, but one could just as easily (and, perhaps, more justifiably) point to a grouping of surrealistically terrible choices that led to her current situation.
Elite colleges still carry a lot of weight with employers. I'm witness to how the school listed on your diploma can effect your career 15 years down the line on a near daily basis.
Depends on what field you go into.
