I'd agree that how important it is where you get your undergrad degree greatly depends on the field you study, how much further you hope to extend your education, and where you hope to land a future position.
I certainly can't speak intelligently concerning all of those for a wide variety of fields, however, from what I've seen in the field of engineering, unless you hope to land a very elite position such as with NASA, the vast majority of companies look more at your internship and Co-op experience than they do which college / university you attended.
With the above paragraph in mind, for engineers, it might very well be more important to look at what companies recruit from that college / university at the career fair and how large that career fair is. One also might look at the placement rate, some colleges / universities have great programs that work hard at placement, others do very little in that regard. One of the largest engineering career fairs in the nation for instance is at at Iowa State Univ. boasting 365 companies represented looking for engineers....go figure eh?
On a side note, the great thing about engineering internships and co-ops is they actually pay pretty nicely often. My youngest is doing one right now at $26.50 hr. Not bad for an undergrad internship.
