The halls of ivy down the road

In following paragraph :
Not just loans and scholarships. Nowadays, schools are laying out a smorgasbord of goodies in hopes that Johnny, Jane, Jose, or Jamal will choose them rather than the halls of ivy down the road.

what is the meaning of " the halls of ivy down the road "

Hope that they will choose them rather than "the halls of ivy" (other colleges or universities) down the road.

From encarta online:

halls of ivy

plural noun
college or university: institutions or an institution of higher learning, especially those regarded as particularly prestigious
After four years in the halls of ivy, she had to adjust to a 9 to 5 job.

From the the traditional ivy-covered buildings.