- Ivy League schools are primarily graduate and research schools.
- Specific departments are NOT necessarily top notch. (For example, I know that Columbia's engineering school is only so-so.)
- Grad schools don't necessarily favor Ivy League grads over others. (I know this too well - I would've had much better chance at grad school, being the top of the class at an average state school, than what actually happened to me - barely graduating from Columbia.)
- Ivy League can be intimidating to some. (My parents never get this, but the fact is, even though I may have been among the smartest in high school, and would've been the top of the class at other colleges as well, I was in fact only average at Columbia, since there were plenty of even smarter people.)
- High-tech employers don't necessarily favor Ivy League grads either. (In fact, in some cases, lesser schools actually prepare their students better for a given job than the highly theoretical Ivy League schools.)
Ivy League schools are also very expensive, though good financial assistance packages may be available depending on the school. However, I still count myself very lucky, to have paid off all my student loan obligations before age 30.
So the verdict is in. The only good reason, IMO, to go to the Ivy League, is if you really need/want that East Coast experience. (Or if you are rich and well-connected, like W at Yale.)