This is the approximate tuition for 4 years at Harvard (@ $40k/year), and not at all representative of the the real cost of university degrees in the US. Tuition at state schools, which are often quite good, is much less. CSU schools, where I went to school, estimate total cost of attendance at about $25k/year [0] split roughly evenly between school costs and living costs... on the high end (less if you live with family, or in a lower cost area of California). Anecdotally, I can verify these numbers.

Unless you are a very high net worth family, $160k for college tuition is overpriced.

[0] http://www.calstate.edu/sas/costofattendance/