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College and grades help you get your foot in and during day zero. If you already have an internship then the college will play no role in a PPO.
For PPOs: be nice (no one wants a douche in the team), you know your practice area and give out good quality work at par with an a0.
For Tier 2 NLUs and SLS/ Jindal there are teams where partners want to pick interns from their college and these teams have dedicated slots for A0 from these colleges.
Other than this if your friend from Christ or SLS Nagpur or Nirma gets a Tier 1 PPO it's almost a reference case (not that they are not smart but as things stand).
Tier 2 PPOs are different Universe and very easy till your final semester.