These days, it seems like having a university degree is the equivalent of having a high school diploma in previous generations – it is simply the requirement in order to even be considered for most professional jobs.
At the same time, university is expensive and comes at a time when people do not have savings or earnings of their own. For many people, the late teens and twenties will be the poorest time in their life, as they are no longer fully provided for by parents but cannot yet get jobs good enough to let them live in comfort. In most cases, they definitely cannot get jobs that pay the cost of living and university tuition, while not requiring so much time and commitment that it undermines their ability to study and benefit from school.
A case can be made that people who choose to have children have some level of moral obligation to help pay for university, in the event that their kids can get in and want to go. Providing such a transfer of wealth to one’s children could help set them on a good path for their entire life. It provides a useful qualification, as well as a key venue to meet future friends, allies, and potential spouses. It is enormously more useful than a lump-sum inheritance received much later in life, when their personal trajectory will already have been basically established. You will also be contributing to the development of an educated and productive populace.
People who themselves went to college probably have a bit more of an obligation to provide a similar opportunity, especially if they received financial help from their own parents. Even for those who didn’t, it is worth bearing in mind that school used to cost a lot less, so people going today have more need for help.
An obligation to help pay for university adds significantly to the total cost of having children, but nobody should be under the illusion that doing so will be cheap. If you don’t feel inclined to invest significantly in your children, my recommendation would be getting a couple of friendly dogs instead.
On a semi-related note, university education is also a smart thing to consider when choosing a spouse. There seems to be a lot of evidence that the more educated a person’s mother is, the better they are likely to do in school, work, and life generally.