I'm going to chime in on this issue. I believe that at the present time, since podiatric medical school is not that competitive, it may not make a huge difference where you obtained your undergraduate education.
If we're brutally honest, there really aren't that many applications for the podiatric medical schools to fill all the available positions, therefore they aren't as select as they should be in all cases at the present time. Hopefully that will change in the near future, but as a result, I believe that the undergraduate institution isn't that great a factor.
However, I do believe that it is a factor when applying to allopathic and veterinary medical schools where there are a ridiculous number of highly qualified applications for a very limited number of positions. There are a LOT of students applying with very high GPA's and good MCAT scores, therefore, graduating a well respected undergraduate school certainly has it's perks.
I have a friend who is on the admissions committee of a very well know/prestigious allopathic medical school and my other friend's wife is the secretary to the dean of admissions of a veterinary medical school.
Both individuals told me the exact information. When receiving applications, they "sort" the applications into different piles. They are sorted according to different school "tiers". Tier 1 schools include the Ivy League schools, Stanford, Duke, MIT, Washington University in St. Louis, Emory University, Vanderbilt University, Rice University, just to name a few off the top of my head that they mentioned. Then they are sorted according to GPA's and MCAT scores, etc.
Coming from a less prestigious school does NOT mean you will not gain acceptance, but if all other factors are equal, the nod will go to the more prestigious school. The oversall census is that these schools have extremely high standards from day one. It is very difficult to gain acceptance into these schools and very difficult to stay in the program and "make it through". Many of these schools weed out the weaker students, and that's why most of these schools have a very high acceptance rate to professional schools among their graduates. It's what keeps up their ranking. The professional schools know that they aren't taking a gamble with these students, since they know the quality of the education received.
Once again, that's NOT to say a lesser known school does not produce quality students, but more prestigious schools are a "known commodity" with a proven track record.
And contrary to myth, just because you attend one of these prestigious schools doesn't mean you can't have a personal relationship with a professor or obtain great recommendations. You can be well known by your professor(s) depending on your involvement/activity in your particular department.
Both of my kids attend private well know "prestigious" schools, and I have no qualms about that fact. I don't know if it will make a difference some day in the future when it comes to obtaining a job, but I do know that they both worked extremely hard in high school, did extremely well and were accepted to top tier schools. When they wanted to go, I did not want to hold them back. I don't know if it will guarantee them a better job in the future, but I know the education they're receiving at these schools will certainly not hinder or hurt them. Additionally, my son was also recruited for soccer, and to play Division I soccer and receive a great education is a fantastic experience.
So the bottom line is that a great education at a top school will NEVER be a waste of money, but at the present time I'm not sure whether it is necessary or a significant advantage to gain acceptance into podiatric medical school.
I do believe that it is presently has an advantage to graduate a "top" school when attempting to gain acceptance into allopathic medical school or veterinary medical school due to the large pool of excellent and highly qualified applicants.