I go to a top 4 school, but this was my experience with FAANG:
Internship Search When I had no previous internships: only got OA from Amazon (out of FAANG), got a referral to FB but didn't get an interview
After 1 mediocre internship (legacy tech company that isn't well-known): + got OA from Amazon + got interview for FB (from a referral)
New Grad Search After 2 internships (most recent a former unicorn): + OA from Amazon + interview for FB (got a referral again) + OA from Google
For me, school + referrals helped, but (quality) internship experience helped a lot more. Although I still got ghosted by Microsoft even with a referral, and never get any response from Apple