No, it doesn't. If we're talking state schools, you go back before Reagan's time and the states paid upward of around 80 or 90% of the education through taxpayer dollars. My parents and aunt's were part of the ones that could go to school on a part-time summer salary. Fundamentally the price is irrelevant at that point.

Reagan went out of his way to defund education in California prior to becoming president which was wildly successful because it turns out there's a lot of assholes in this country who are willing to sacrifice the future for a few tax dollars.

Other states follow the model and suddenly you have a situation where the state funds very little and the rest has to come from aggressive student loans.

The shit has zero to do with proximity to home, whether or not you stay on campus, or any other factor. Those are largely modern effects.