Not arrogance at all, and the "fight it out" is the resume and/or perhaps a phone call to each of them to see who I want to call in for a face-to-face interview. You HAVE to make judgements on resumes when they come in. if a job posting brings in 100 resumes, I'm not going to interview them all. I'll cut it down to 2 or 3 initially and see who does well in the interview and accepts the job offer if one is given. If they don't work out, then I move to the next 2 or 3.
Criteria for getting the interview:
1) Proper education. If a college degree is required, then they need that. Will want a related degree. Ohio State grad with the right major would trump Harvard grad with wrong major.
2) Performance in college...GPA, involvement, leadership, internships, etc.
Once the 2 or 3 get whittled down out of 100, then it's time to decide which 2 to call in for the interview. If they are all tied with previous criteria, the student from the elite college is coming in for sure. It's just an extra test they had to pass...it is not easy to get admitted to an elite college.
AND, no one said anything about debt vs. no debt. Fact of the matter is that for most people, a degree from an Ivy League college (and other elite colleges) will cost the same or LESS than a degree from the flagship state university. Stanford just announced that if your household income is $125,000 or less, and you are admitted, you will get FULL TUITION, having to pay just room and board. If you make $65,000 or less, you will get FULL TUITION AND FULL ROOM AND BOARD. This is very close to what Ivy League schools offer and just slightly better than many other elite colleges. They can do this because they have BILLIONS of dollars in their endowments. Harvard's endowment is $32 BILLION+. Can't just assume an elite education will cost more. For those who pay full price, they can afford to do so in most cases. Ivy League and other elite colleges annually make the "most affordable" college and "best value" college lists.
People use cost to explain why they (or their kid) went to a lower-level college than to an elite one. BS a lot of the time.