Help - Non-target school question

Any advice/information will be greatly appreciated...

One of my close relatives is a senior trader at a top BB bank (10+ years) and he talked me into pursuing a trading career. He forwarded my resume to the recruiter and she sent me a standard email telling me to apply online and wait to be contacted. After hearing no response, I contacted her a week later and she said that she is going over a possible interview date for me. I call back a few days later and she said that they need to interview students from target schools first before they can interview me for the summer position and that she has my resume if she decides to contact me. Is this an indirect rejection? I believe I somewhat qualify for the position...engineering major, 3.82 GPA, GRE Quant:800, however, I am from a non target school (UC Irvine). Is this a result of not being from a target school? Or is it an internal issue with the recruiter?

I dont understand....please help...