What a fun one to offer an opinion on. My daughter applied to two LACs - if you include the public one she is at (they say it’s an LAC but 10K kids) and W&L - which she declined. The rest were big schools.
There’s many words that can describe LACs and other: small, tight, social, personalized and more. But many words can be described across the gamut. And don’t forget, large schools all contain LACs.
I’m guessing LACs are like other schools and looking to assemble the best class. The most selective likely seek diversity, commitment, strong academics and more. Others likely seek wealthy applicants. btw - more and more seem to be adding things like business, engineering, etc. - so they might see some shortfall they need to catch up with.
I don’t think most employers care about an LAC vs. a university. They’ll likely care (depending on the job) a Mechanical Engineering degree vs. Physics. Econ vs. finance, etc. if seeking a finance major, etc. But in the end, college is college. Now, some may have preferences for specific names but with the Internet, that’s less and less today but still exists. But that’s hiring manager specific to answer your question - but I don’t think employers care. But for those who seek name recognition, LACs definitely have less - than flagships - as example. But I work with people who went to both - but mainly universities - top notch, flagship, regional/directional and private but some LACs - mostly local to Atlanta. I work for a multinational.
As for grad school, grades, test scores, etc. matter - but for PhD on a per capita basis, they seem to do better. But at the same time, that’s likely selection bias - someone planning or desiring to pursue a PhD one day might lean toward an LAC vs. a university. He’s a feeder list by majors.
If I was advising a top 5 at high cost vs. a top 10 state university at half the cost, I’d go the state university - and not even top 10 but that’s because I have a value basis. But in the end, one should only pursue what they can afford. If your family can comfortably afford $90K and they’re willing to pay - or whatever the cost is, then that’s fine - it’s a personal call.
If you changed the equation and said I can go to Pomona for $90K or Occidental for $55K, I’d personally choose Oxy. Others would say Pomona - and if you can afford it. And then it might depend - do you have a niche career goal that might require a specific name. But take money out of the equation - because spending money is a family by family decision - and very personal. As for Pomona, Wesleyan and Colgate - you’ll be amazed by how many have never heard of any of them - as opposed to Ohio State, Alabama and Georgia.
But those who need to know - will know. Or won’t care- you’ve got a degree - and that’s what they care about.
There’s a lot of hypothetical and you will get all sorts of answers - but that’s my feel.