Hello, the college from which you graduate certainly has importance as it will always be present on your CV. A better reputed and a higher ranked college generally offers better placements and job opportunities to its graduates. Also the college life is very much dependent on the college only.

However, it is not the only factor that determines your career, apart from your college there are other things aswell that holds value. For eg, your work experience, your participation in co-curricular activites etc.