That's only part of the equation. The other part is hiring managers that feel like candidates should have put forth "as much effort as they did to obtain a degr

That's only part of the equation. The other part is hiring managers that feel like candidates should have put forth "as much effort as they did to obtain a degree." These are the folks who will only consider/hire candidates from <insert small subset of 'prestigious' schools here>. Perhaps they are trying to justify the time/money they spent obtaining a degree, and don't want to allow others to avoid the trouble even if they are qualified to do the job?