Look at a bunch of job postings of today and see how this would match a graduating student in 5 years. All in all, do NOT expect a miracle from the school name alone. The reality is a bit different: top schools attract top students and among those, chances are that companies have their pick of the litter. However, that does not mean that students who were competitive or did not get one of those 1 out 20 slots at the Stanford of the world are necessarily unable to land great jobs in the industry. A great coder might have a mere high school degree – if that much!
Have the kid take a look at buzzwords such as Python, Ruby on Rails, and similar terms that float around in 2015. Inasmuch as graduating from a school such as Stanford helps --for the reason written above-- the industry has a lot more capacity than for the few hundreds who come out from the Farm on a annual basis.
Fwiw, the same applies to “internships” as some are very nice but hardly essential. Internships are easily the most overrated element of transitioning between school and a real job. Many internships are mere abusive tools that profit from an overblown reputation and the insecurities of parents and their kids and … do NOT lead to great jobs.
All in all, kids from obscure schools get jobs every day in Silicon Valley!