I’m a bit of an expert here so sit back.
Ultimately it’s what you make of it. My parents were Northwestern grads. My dad had a very good, not great career, mom took a lower paying, lower stress job to be with the kids more. Neither of them felt any kind of allegiance or held the education they received in any kind of high regard.
I grew up obsessed with Notre Dame. Football games every fall with extended family. Fell asleep watching Rudy every night until about 12. First run in with police was being thrown in the Notre Dame Stadium drunk tank as a Senior in High School. First school I applied to.
I’ve seen duds and overachievers graduate both and they probably would have been duds or overachievers regardless of school.
The same phenomenon I’ve seen happen within IU. Tons of Kelley grads who are just piddling along while kids who didn’t get into Kelley with a chip on their shoulder are crushing it.
In summation, Notre Dame is still the 2nd best university on the planet and I should’ve gotten in. But where you went to school doesn’t matter. My sister just finished grad school at UPenn. She’s completely aimless, has no drive and makes peanuts.