There have been several postings on P.SE about lower quality programming education, and this post from Joel on JavaSchools shows his frustration with the way computer science is often taught.
At many art and music schools, only the best students are allowed to continue their education. They only accept a limited (call it x) number of students, and if you are not in the top x students, you don't continue. Contrast this with computer schools, where if you get a C, or a B in my school, you go on.
Should computer science schools have a similiar program? What are your feeling regarding such a program?
EDIT: In reply to the posts who say that graduating from a top school does not guarantee a good career: I don't think it should. My question has to do with how you be sure that the people who do graduate from any school - Ivy League or not - have reached the level of proficiency that a degree is supposed to show.