It looks like you’re right about cars and wrong on college.
https://educationdata.org/average-cost-of-college-by-year
https://blog.cheapism.com/average-car-price-by-year/
Federal student loans have enabled the cost burden of college to be shifted to higher-income parents and their offspring so “underprivileged” kids can get a nearly free ride.
It’s called “social justice”.
The Republican House of Representatives could investigate this.