Also what kind of career goals does he have? Many millennial kids do want to do a good job and they want a good salary but they prefer work life balance over working 60 hours a week and making it to the very top.
That doesn't mean they are lazy, if you want to do a good major and do a good job for 35-40 hours ultimately making 60-70K instead of working 60 hours,becoming a top manager and making 200k.
If he has really lofty career goals then the ivy definitely would pay off but if he is more motivated but work life balance matters more a major at a solid above average school would work fine.