I agree with the general premise of the article, but not the conclusion. Private elite colleges are overrated and not worth the added expense. But, not all colleges have the same reputation. Employers know this. Attending a school that has an acceptance rate close to 90% is not going to be very impressive. Why is that? It's because the employer will believe there is a reason you dodged going to a more challenging school. Was it because you were rejected from the better school or you didn't want to put in the effort and selected the easy school simply because it would allow for more time to party.

I attended a State University that was easy to get into and had no trouble graduating. Both my kids attended a Big10 University that was much tougher to get into. They both are now working in careers that pay them more than I have ever earned in my life. Their starting salaries are higher than what I make right now.