Historically, absolutely right. Quite a few:
Hacksaw Jim Duggan (SMU)
Roman Reigns (Georgia Tech)
The Rock (Miami)
Tito Santana (West Texas State)
The Million Dollar Man Ted Dibiase (West Texas State)
Dusty Rhodes (West Texas State)
John Cena (Springfield College)
Big E (Iowa)
Bray Wyatt (Troy)...