We value the live away from home experience as well. I think it is great practice at being an adult.
That being said it can be pricey. I was happy my D19 was able to move off campus a year early due to covid as it has been cheaper than the dorms.
D23 has 4 main schools she still looking at. 2 are 4-5 hours away and 2 are 2 hours away. While I believe it is better when they are far enough away that they can’t easily come home on the weekend I wouldn’t mind if D23 picked a closer school. Those move in days when you drive 5 hours move in then grab a bite to eat and then turn around and drive 5 hours home were quite long.