It's so weird to do this with the sticker price of college, and to combine in- and out- of state. Sticker price the max you pay in tuition, and families where people are earning minimum wage usually get huge discounts on the price. The UC system in California says about 55% of students pay no tuition at all. The statement used as the title is not supported by this analysis.

I think there's good data out there on average cost of attending schools (tuition and living costs net of grants and student aid).