It is, even if they go the ivy league route. From 4 years of tuition that was well over $200,000, my daughter graduated with just $9000 in student loans. Scholarships covered the rest. She already had a job lined up, moved back home for 6 months, and when the loans came due at the end of 6 months, wrote one check and paid them off. But nobody handed her anything. She worked her tail off for those scholarships and earned the education she got.
That was smart, and good parenting, no doubt. If college is not an investment, if it does not more than make up for the lost earning years, then it is not worth it. Clearly, your family had the right idea. Too many use college to postpone adulthood.