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Prestigious schools have top notch/cutting edge researchers as professors and, therefore, the caliber of what they teach is higher. Also, a letter or reference from a leading expert in a given field can make the difference when it comes to advancing your career/education.
It's tough to generalize because there are some professors at prestigious schools who are so wrapped up in their research, they view teaching as nuisance and therefore make poor teachers.
Overall, however, the professors are a factor when it comes to determining whether a college is deemed prestigious or not.
Not all prestigious colleges are necessarily harder than others, but because they are so competitive, the level of work is occasionally ramped up to challenge the caliber of student they are deaing with. You may find similar majors at most colleges - for example, just about everyone has an English, psychology, biology, etc. degree. What you don't usually find at prestigious universities as much are those majors which are focused on particular careers. You wouldn't go to Harvard or MIT to study Physical Therapy, or Yale for Criminal Justice or Culinary Arts, for example.
its not so much that the schools aren't easier, it's the amount of work they put on the students, and how hard the students want to work. at schools like Harvard and Yale, it's beyond the fact that these people are smart, it's their desire to persevere and the way they work hard. so maybe you might be missing a little bit, but it would be because the students at the more prestigious colleges want to learn more than the students at schools where they can just slack off.
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