This is a matter of perception that you are talking about. Usually students from good Universities and colleges are satisfied with the education standards and also majority of students have a positive feedback about the Universities and the education system. Colleges are focused on imparting industry oriented skills and hence it’s rated equally good (majority of Asian students enroll in colleges).
Job prospects depend mainly upon your performance and demonstration of skills unlike to popular belief that the Universities play a major role. It may provide a better platform but grabbing the opportunities are up to the candidates. There are both successes and failures over there but majority actually succeed in getting a job and PR in a few years time.
Satisfaction is a matter of perception. Some are satisfied with education, some with part time jobs, some with jobs & PR and a lot with citizenship. Even then some are dissatisfied to the mood mainly depends upon the aspirant and how well are they able to use the opportunities. It is a small sacrifice you make to be able to get a PR and after you have settled there are various opportunities.