Going to college actually spend more money then making more money. You can use the 5 years time in college to work as anything and most probably manager level after 5 years.
700 euro per year for 5 years = spending more than earning? Hm.This might be in the US, but only insane people go live there.
700 euros per year is very cheap for a college education. It costs about 5 times that where I live.