I hear ya.
The aspirational crisis effects all walks of life.
University in central Melbourne was too expensive for me, so I opted for a country University.
I managed to be accepted into a double degree course for the same TER that allowed me just a single degree in the city.
I moved out of home to a place 3 hours drive east of Melbourne. Our rental share house was $105pw (1996-2001) during the University semester, and $20 per week during the period Nov-Feb (inc). Some fine negotation by my Dad. This was a 16sq 3 bedroom house with double garage, so $35pw rent each for the 3 of us. It was no palace, but it wasn't a dump either. It was safe and everything worked, no holes in roofs or any of that. It was just your average house and a 10 minute walk to Uni.
Yeah, it was a few years ago, but it's not *that* much more now. Same house is probably around $170pw.
Employment wasn't the greatest in the area however the Army was always looking for people and there were jobs for people who really wanted them. I enlisted and worked almost as often as I liked for great tax free pay that didn't effect my Youth Allowance. The thing was the area was so cheap to live in most could do it on Youth Allowance alone.
Recieved great quality teaching, two degrees from a big name University, no parking fines or fees, always a free computer in the labs, always easy to access a lecturer or tutor, active social scene (the student population of 6000 had to manufactuer our own fun, which we did and it was great).
I think it also helped having a social circle that had a limted 'lifestyle' budget as well. If you, all your friends (and even many locals!) are poor then you're not the odd one out because you can't afford to go to the movies, nobody goes to them! Movies = 12 mates watching a $5 DVD in the Student lounge on the big screen and microwave popcorn. I'd imagine living in the city going to the same University as CEOs and politicians kids one might experience a little more social pressure to engage in higher cost lifestyle activies. I don't know how the hell students can afford to go to Parklife etc at over $130 per ticket (plus 'incidentals') unless Mum and Dad were paying... hell knows I couldn't.
This is within reach even for lower socio-economic people, as I was back in the day. Problem is the country isn't 'cool enough'.
P.S. Just a quick point on your example WW, once you earn over a small piddly amount per week the amount of Youth Allowance would reduce, more so that it should IMO. Don't quote me but it's quite harsh, something like for every $100 you earn you're Youth Allowance drops $50, so you're really only $50 ahead for doing $100 worth of work. That's probably why many students just do it extra poor rather than work.