Some colleges encourage that (or at least a form of it), but they’re very unusual.
My D19 is at Mississippi State, and there is a parent portal through which parents have access to billing, of course, but also (if the student allows it, and students are strongly encouraged to do so) progress grades are visible as faculty post them. (Usually just a midterm grade, but some post updates more frequently.)
As someone who’s been faculty at multiple colleges, I was kind of blown away by the idea of enlisting parents as allies in students’ academic success—everywhere I’ve worked, we’ve essentially worked hard to get parents to leave everything be.