Most of the times, universities and colleges in the United States are proud to highlight the names of high ranking public servants and other famous people who graduated from their benches.
In Sarah Palin's case, there are 5 (five) colleges that probably lost status in the eye of public opinion. Yes, that's right! She jumped from college to college at least once every year ... no wonder she sounds like an empty-headed bimbo at a beauty contest when asked common sense questions.
I would be really curious to read her first college application - would bet that somebody else wrote it for her (unless the college that admited her first is giving out diplomas for a fee).