You don't pay for instruction or certification you pay for signaling. A student from Arizona State can be more competent than one from Harvard. Who do you think is going to have more doors opened for them?
> A student from Arizona State can be more competent than one from Harvard.
The relevant question from the perspective of those doing the hiring is what is the probability a student from Arizona State is more competent than one from Harvard?
Replace competent with well connected and/or otherwise useful.
