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Our universities are mostly publicly funded, that's why the level of education quality doesn't vary that much. Sure you got famous universities with very strong research groups in certain fields. But the impact on education is limited - if you passed linear algebra it doesn't really matter much where. I can only speak for Germany though, it may be different for example in the UK.
On the other hand - the top US universities seem to be on a much higher level then ours, that is why the elite love sending their children to the Ivy League universities. So even in Germany if you went to Harvard or Columbia this will often qualify for the real good positions.