definitely. FAANG mostly recruit from top-tier programs (Harvard, Stanford, MIT) and usually pay $150-200 for a starting salary for someone from one of those programs
I have been recruited by a few FAANG companies (recruited in the sense that a recruiter reached out for an interview) and have only gone to public schools, nothing impressive.
I wouldn’t get passed a phone screen without prep for a software dev position.
I only recently ended up at a FAANG as a technical consultant. Even then, the recruiter reached out to me about a software engineering position and I asked about openings in the cloud division.