The Dale and Krueger study from about 10 years ago, which has been recently replicated, firmly refutes that notion. Anecdotally, the recent Ivy grads from my son’s HS are significantly under employed. In my field, healthcare, the Ivy grads in our neck of the woods, don’t make any more than the Podunk U grads (yours truly :D, Go Tigers!) and some make substantially less. The idea that an Ivy degree of any kind is a golden ticket has been blown up.
Now, as you said, for a few very specific jobs, the pedigree can mean the difference between success and being shut out completely. Those jobs would include investment banking, upper east coast law, and being on the Supreme Court. Otherwise, undergraduate degree only from Harvard in Folklore and Mythology…be prepared to say “would you like to biggie size that?” a lot.
Back to the OPs original question, the further a Poly grad strays from CA, the less likely it will be that a company will have interfaced with their grads. The same can be said for a Purdue, Illinois, GT even a MIT grad wanting to work in CA. Companies tend to stick with what they know. Most companies get most of their applicants from schools very close by. Just under 70% of UIUC grads work in Illinois or the states that touch Illinois. Apple employs more SJSU grads than from any other school. That’s not saying grads can’t be mobile or that we should intuit that SJSU is the best school. It’s to say recruiting is regional.
What type of engineering is your student interested in?