I'm a high school drop-out, and have had senior management positions in three investment banks.
The hard part is getting the first job, after that, your work experience is what counts.
Hardest part of an interview is finding out if someone can think for themselves and they are hungry to learn/grow. a 4.0 from MIT doesn't often provide that.
Too many times I have been disappointed by 4.0 ivy leaguers who think they are done learning when they get the job offer and because of their ivy league background they should be CEO of the company the day they start (i.e. get upset because they still have to earn their stripes, so to speak).
I'd rather take someone with lower qualifications, that can demonstrate some tangible skills, and a desire to work hard and recognizes that the learning never stops.
I'd think in this economy you might have a better shot. You'd probably start out for less than an Ivy league grad and provide more value to the company.
I always had trouble trying to communicate this to the folks who ran our intern program, though with moderate success.