We can agree to disagree.
Kids get jobs where they apply.
My son turned down your best school in Indiana (and you are missing #1 in the country for non-PHD Rose Hulman). He went to Bama. While I cringed, he told me rank wasn’t relevant to companies and he wanted his own dorm room vs. at the time what would have been a triple or even off campus. Many go to Bama for either NMF (free) or the dorm.
He had I think 6 offers by xmas Senior year and his intern company in the Spring. His offers were in the NE, midwest, out West, Tampa was the closest to school and more. He applied only for rotational programs.
His first rotation was in Utah - where he hiked, biked and skii’d. At trivia night, he met a Columbia grad from a neighboring company and my son was surprised to find out he made more $$. He worked in CA, FL, AZ in addition during his rotations and now is in Irvine. He says there are lots of “roll tide” comments in CA, alums and more.
My daughter - not engineering - went to a regional school in South Carolina and works in Denver. Why? She applied for jobs in Denver.
Most hiring today is done online. Yes, many kids, like at UMD - settle locally - but that’s a choice. They also derive higher salaries - likely due to the high cost of living but also many employed by the government. The career stats show most pay roughly the same. UVA doesn’t show EE salaries by the way. Va Tech also doesn’t - says not enough grads reporting. I worry about schools that can’t wrangle data from their grads. btw - how many jobs in general are local to Blacksburg, VA or Lafayette IN or Terre Haute IN?
Budget should be the first factor to drive a decision if it’s important - but short of the Stanford/MITs of the world, I think there’s a lot less variance than you are stating.
My opinion from having been through it.
If you want to work somewhere, then you apply to that somewhere.
If I recall, there was an Omaha kid at Bama on here. They wanted to intern near home. Guess what - they did.
You will find successes from most any school - and not just local. But you will drive your success - and have a say in where you will work - industry and location - because you will be applying to places that interest you.
Good luck.