Probably. They can afford to be snobs, they're ranked #4 in the country.
Now that I think about it, almost all the students I know who are there or who went there went to big name schools, many of them Penn itself. Not all, though. I'm sure there are plenty of students from lesser-known schools.
Although their students do tend to be snobs. I might be in their place, too, though. And I really love a bunch of them, they're great people, but they're pretty snobby when it comes to their school (in my experience!).
edit: That's one of the things that really surprised me about Jefferson: almost all of the students I interacted with on my interview day went to very small schools, many of them local to Philadelphia; none of them were from well-known schools. I thought that was weird. Of the students I know at Drexel, it seems like many, if not most, went to recognizable undergrads, including some really top ones. Just walking through the parking lot you stickers from tons of well-known schools. It may be sample bias or something, I don't know; I didn't interact with that many Jefferson students, probably like 7, but that included the 4 who were in charge of interview day. Weird.
