> I have never heard of anyone being turned down for a job because of their undergrad being from a no-name college.

Have you really never come across this? My anecdota are the exact opposite. In every hiring process that I've been familiar with (granted, that's only like...3), you'd have a non-trivial advantage at getting your foot in the door if you have a good name on your resume. By the time you get to interviews, nobody really cares, but the recruiters in pretty much every organization I've been exposed to use extremely blunt filters like that.