My wife is Norwegian, hence both our kids have Norwegian (and Canadian) citizenship.
It mitigates university fees dramatically - now they've both passed the (gruelling) Norwegian language proficiency tests so they get almost all university fees granted, plus a small "stipend" for living expenses. Student loans make up the rest, which are largely forgiven on successful graduation.
Add to that that minimum wage in Norway is around $20/hour - my son has spent most of the last year working in a daycare, my daughter part-time in retail - and a student can actually have a life and learn at the same time.
Plus, of course, they're in Europe. Ryan Air means that they can go to London or Dublin or Copenhagen for about $50 return. The political atmosphere all over Europe is actually pretty exciting - Norway is the only country in old Europe that's not part of the European Union, but other than that it's still part of that great experiment in bringing together the largest group of nations in the world under a common government, while maintaining independence in most local and all cultural affairs. And the feeling all over is that Europe is on the way up, as the Euro rises continuously against the dollar, and as more and more large organizations choose to operate out of Europe (in the year 2000, 80% of public company finance was raised in the US, and 20% in the rest of the world - in 2005, that was exactly reversed, with almost all the US losses being taken up by the London markets). That feeling, that sense of being part of exciting cultural breakouts and new social, business and political arrangements, is part of what makes it a great place for young people.
I miss my kids enormously, but at the same time I'm delighted that they have the good fortune to be part of Europe at such a fortuitous time. If I were 25, I'd be there too.