Most advantages were covered by previous posters so I’ll just add one. If you go to a top school then that that name pretty much works as a business card. By uttering one word, people understand where you stand IQ and work ethics wise.
My cousin rejected two Ivy acceptances and picked a full ride at their average state school for financial reasons, he says that more than other aspects, he hates that name of his school leaves need for so much to be explained because unlike top schools, it’s not a homogenous student body of intelligent, hard working, high achieving, accomplished and bound to be successful students so people don’t know where you stand.