Don't you think that part of your job as a more experience programmer is to share your knowledge with juniors/graduates?
Universities are mostly interested in who can pay,. I'm 24 and I've got a computer science degree - real comp sci with maths and algorithms, i wrote a compiler, studied language theory you name it. Now I'm doing a masters degree (at one of the top universities in Australia) and as part of it I've worked with guys who couldn't write software. I've also met a bunch of really talent and smart guys all in their early 20s.
But I've also worked with guys who have been around for years with no idea on how to write software either and churned out crap code without even a single unit test in sight. Point is - there are bad developers of all ages and you shouldn't discount an entire group because of one idiot who didn't know what a linker does.