To me the option to live away at college is a pipe dream for most kids. If the median income is around $60K then there are plenty of kids below that with even less cash.
If one wants to double the median to $120K then we are possibly talking about attending a local instate city school. Even a state flagship might be out of reach.
The extra $60K needed to have a student live in the dorms is a luxury that most cannot afford. I do understand that there are plenty of people who feel differently and will have their kids take out a 10 year student loan to buy a cheeseburger and fries but to my financial thinking, that is not a very good plan.
The rich people in the top 20% can sent their kids off to school. The other 80% usually have to borrow deep for that cheeseburger and fries. Just the way it is.