The thing is, for those of us who finished college a couple of decades ago, living "college-poor" was still fairly easily possible. Today, even "college-poor" rents are often so high that the changeover after graduation isn't moving out to someplace nicer, but taking over the portion of the rent that your parents were helping you with.
I'm dealing with that reality right now. I helped my DS find a low-cost off-campus place that he couldn't afford on a p/t minimum wage job, so we subsidized. He just graduated and is looking for full-time work. His campus was urban, and he lives nearby (he used a bicycle to commute). In his city, the vast majority of jobs are in more suburban locations, but there are very few bare-bones rentals in the suburbs, the suburban housing stock is larger and newer, with rents that are correspondingly high. If he gets work in the suburbs he will probably end up with a long commute, because the lowest rents out there are about double what his current place costs. (Also, his current place is tiny, which keeps utility costs down as well.) So, even staying put in his run-down, tiny college apartment, his rent is going to go way up, because we'll stop subsidizing it.
PS: To elaborate, his place is 338 sq.ft., off an alley at the back of the building. There is a coin-op w/d in a closet between the two sides of the building, but only 1 set for 10 units. He does have a microwave and a 2-burner stove, no garbage disposal. His furniture is hand-me-down or purchased used from a hotel liquidator. He has basic internet, a wall-mounted A/C unit which also produces heat, and a very narrow stall shower in the bathroom. There is no TV, and the building does not have amenities like a pool or a weight room; he hops on his bike and rides a mile to campus if he wants those. Street parking if you have a car. The rent, which includes all utilities/services other than internet and electric, is about $900/mo. He doesn't live with a roommate because he is on the autism spectrum, and he's never been able to find another male his age that he could deal with living with. He has learned to keep his food costs low, he eats a lot of ramen noodles, and he does not drink any alcohol, or even soft drinks; just water and sometimes milk.