For the right student, and going in fully aware of all the realities, absolutely, if the desire is there and especially if the alternative involves debt.
It would come down to weighing all the pros and cons of both options, what you give up and what you gain with each, and which way the balance ended up. I did, by the way, gain my B.A. from an European university like that. I am happy that my older daughter is attending a residential four year college and very much enjoying her experience. I hope my younger daughter will also have the same choice.