I think you're underestimating the cost still. Without aid, the cost of many well-rated private colleges in the US is about $60-80k per year. That's more like $240-320k over 4 years if you don't get any aid. Of course, not a lot of people pay that because colleges spend a lot of money in giving out financial aid.

You are right that public universities are a great cost efficient way to go to college. Unfortunately, that's not an option for us international folk; out-of-state tuition plus no aid makes it as expensive as private colleges without aid.

Personally I spent about $20k per year. $80k for a college may seem moronic to you, but I think you're coming from a place of some privilege and that it was worth it for me. It gave me the ability to leave a third world country and go to college at a highly rated US university. I wish I had the luxury of spending less than that.