Although I look at college applicants come from, I do not hold any prejudice for the ones who graduated from the university I graduated from. I have employees who have graduated from UCLA, USC, Stanford, Harvard as well as many lesser known schools.
Mature managers knows who the hard workers are. For me, I want the best of the best. I want people who are knowledgeable, who has the experience and I know can get the job done. That takes maturity.
Young graduates today are into self-gratification. They buy the hottest new sports cars, join fitness clubs and spend money without thinking about the future. This is where they actually lose points with me.
Like Tess says, you must listen to your boss but if you feel threatened, you have two choices. Confront your boss with your concerns or find a company that better suited to you.