Leaving aside tuition, I don’t think you’re independent/an “adult” if your parents are still paying most of your bills. I didn’t have financial support (low-income family) in college and my adolescence essentially ended before college. I worked full time in undergrad and paid everything on my own.
On the other hand, many of my friends not only had their bills paid but also received an allowance for “fun” money. No, I don’t think their adolescence was ended by college.
So yes, it can be the end but it isn’t necessarily.