225K/year is really lot of money for majority of people. But it involves a significant life style change for four years.
Let’s say 75K goes to uncle Sam. There will be 150K left for OP’s parent(s) to spend. If another 75K goes to college then it will have 75K for OP’s parent(s). It will almost reduce their consuming power by 50% per year for four years. Is it doable? Yes. Is it easy to do? Not likely. Someone has said it is a luxury, which is very true.
Education at private colleges is very expansive for non-poor and non-super rich people. Chicago’s COA has increased 4% every year for several years in a row. It is hardly sustainable. One good news at least for Chicago is that it offers merit-based scholarship. This year someone has reported to get 30K/year. That doubles the maximum amount from a few years back.