Given that maybe 99.999% of the jobs in the US are not high paying jobs on Wall Street it is possible for it to be true that where you went to school does not matter to potential employers after all. So maybe you go to a place that Wall Street will be impressed by. Maybe you need to take out massive loans to go there and maybe that works out just fine because you actually get that high paying job. But you may not get that job and you may end up selling cars or insurance or in the Verizon kiosk at the mall making a very modest salary and needing to service a huge loan debt with that salary.
I'm not specifically looking to get into Wall Street (although if the opportunity presented itself I'd probably take it); my long-term goal is to be able to get a well-paying managerial position at a large (possibly fortune-500) company. I'm assuming that what college you go to does matter to fortune 500 companies, right?