This guy is merely a troll, making up times and instances to try to prove his point. In which his point is merely to spread negativity. Not even posting on a registered account. Many of the B1G teams would absolutely love a 4:20 miler as a walk on. Minnesota, MSU, Rutgers, Penn State, and almost every other B1G teams would take a 4:20 miler. The only exceptions MAY be Wisconsin and Michigan, in which I believe they would take a 4:20 miler as a walk on.
With that being said, almost every D1 team will take an athlete with a PR of 4:20 as a walk on athlete. Many teams outside of the top 40 teams in the country will give you a chunk of change for running 4:20 as well.
I, myself, came out of high school with PR's of 15:01 (5k), 4:15 (1600), 9:14 (Full 2 mile), and 1:54 (800) and was offered many scholarship opportunities at smaller D1 programs and was offered a preferred (recruited) walk on spot at NAU, Colorado, Notre Dame, and UVA. To name a few schools that offered me a scholarship opportunity include Virginia Tech, Florida State, Drake, Montana State, Ole Miss, etc.
My point is that you can almost run anywhere with a 4:20 mile contrary to popular belief. Whether or not you will receive a scholarship is a different story and will depend on the program's needs. I would find each coaches email and send them a personalized email pertaining to your times and interest in their school.