Horseshit. I have 3 kids, live in a very expensive area in Massachusetts. No way will I spend near $500k. Of course my oldest will be going to West Point or will have an ROTC scholarship. This “study” should not count college tuition.
Any parent that pays full freight for their kid to go to college is stupid.
80% of college students graduate with student debt. I’m happy—not stupid—that I scrimped and saved so my kids could graduate without debt.