
What I've seen of Harvard students/grads does not match up with the overwhelming stereotype (at least in the Midwest) that Ivy League students are stuck up, arrogant snobs with absolutely no understanding of the "real world." So far, I've seen very little of that attitude at my interviews, and I've met a pretty decent number of Ivy Leaguers in the past 6 months.
It's probably a mixture of jealousy as well as experiences with a few bad apples who really are full of themselves and the fact that they are students at the best institutions in the world, which is understandable. Personally, I don't think attending any school should be any overwhelming source of pride, it's really more of a way to get to where you want to be in life.