It is very competitive out there. Also, I went to a state college so the cost was not nearly as prohibitive as a University. They have helped out a little here and there, but I am so proud of my degree because I did it myself. If nothing else have them attend state college so you wont end up bankrupt. And tell them they should try to keep the GPA up so they can get grants and scholarships from the state and the school.
Most employers are more interested in grades and experience than what college was attended.
In other words, if your child is graduating this Spring, do not claim them as a dependent for 1998. Or consider paying for their college until they are considered independent by the school, then they will be in shape to get good financial aid. I can understand why parents don't want to move in with, or closer to their adult children. It will require some getting used to. But life never stays the same.