pba: it depends on what u hope to gain from your time there. to some, its just for the name, and your right, that wouldn’t be such a shame if they don’t get in. for others, it is a big deal. its all relative.
i definitely don’t advocate going to “brand name” schools, i think its silly and immature; however, if someone has real goals and things they hope to gain from a particular institution, then it is disappointing to not be accepted.
at the same time, not getting in to your school of choice does not mean you wont have a great experience elsewhere. sometimes, the second or third choices yield better results! but lets hope that all those who DO go to seminary WILL most definitely remember where they went and what they did there–if they can’t remember even that, then i guess their year wasn’t at all important to them.