This might have been a reasonable strategy for us to use with either of my stepkids, both of whom went to in-state schools and had pretty routine college experiences (4.5 years each, no missed semesters, no travel). I went to a public school but out-of-state and was happy to be in a dorm year 1, to meet other people (I didn't really know anyone). I rented apartments years 2-4 and didn't pay rent the 1 semester I studied abroad -- I forget whether someone else rented, or this was just worked out in advance with my roomies, we were 3 in a 2 br and I was one of the doubles, so my other double roomie may just have picked up the extra cost. My sister went to an expensive out-of-state school in a big city with a particular focus (the school, not the city) and decided after one year it wasn't right for her and transferred back to our state flagship (but then spent 1 out of 3 of the remaining 3 years, studying abroad). A good friend whose daughter's just gone off to school out of state decided she was homesick and is now taking classes in the community college in her hometown. So ... yes, but depending on the kid, the situation, and your flexibility / willingness to be an absentee landlord to non-family, might or might not be a good idea.