Most of this "best schools" discussion completely misses reality for most students and most careers and is very California/east coast centric.
For certain careers, especially Wall Street and banking careers in east coast cities like NYC, Boston, Philadelphia, etc. Yes, and Ivy education is one ticket. You probably aren't going to get an interview at Goldman Sachs with a degree from Utah State. Likewise, to get into an academic track in the liberal arts you pretty much need to be in the ivy or near ivys. But those represent a miniscule slice of the American workforce.
For students who aren't from Boston or New York and are interested in pursuing life and careers in their own home states then there are plenty of home state options. Here in Texas pretty much no business doing hiring in Dallas, Houston, San Antonio or Austin is going to look askance at any top student from the public flagships (Texas and Texas A&M) or any of the top 6 or so private schools in Texas (Rice, SMU, Baylor, Trinity, TCU, Southwestern). In fact, students from any of those schools are likely to have a leg up on out-of-state grads just due to the incredible alumni networks those local schools have. Likewise, someone hoping to work in Seattle might as well have a degree from Washington as anyplace else. In fact, a Stanford or Berkeley degree might even be a disadvantage for those applying for jobs in the Northwest. I grew up in Oregon in the 1970s where "Don't Californicate Oregon" bumper stickers were popular. I expect most other regions of the US outside the northeast seaboard are similarly parochial.
In addition, for students pursuing lots of technical, engineering, or medical (non-physician) careers there are plenty of regional schools that are perfectly fine. For most of those careers (engineering, nursing, education, pharmacy, software, network administration, etc. etc.) The certifications and qualifications are more important than the school itself. Yes employers are looking for good students but they aren't looking for ivy types. And local is often better due to the connections and alumni networks.
Finally there are many many specialty fields for which the best schools are often far from the ivy league and not at all what one might expect. Someone interested in petroleum engineering should be looking at schools like Texas, Texas A&M, Colorado School of Mines, Penn State, Tulsa, and Stanford. Definitely NOT Princeton, Brown, or Dartmouth. Someone interested in Oceanography should be looking at Washington, Texas A&M, UC-San Diego, Miami, Virginia Institute of Marine Science, Rhode Island, and a few others.
If your child is in the top 0.1% then by all means, search out the most elite institutions available. But 99.9% of students are not. And a majority of people in this country really do not actually want to live in New York, Boston, Washington or LA.