Military and money vs college?

I understand that people serve for various reasons and lets be honest money is one big reason many people join. My question is would someone in the military be better of financially than somebody going to college? For example although an E1 only earns a mere 17k a year he is getting free housing free food free medical care. He is also receiving tax free shopping. While a college student or someone who has graduated college might earn substantially more they would most likely be in at least 50 thousand dollars of debt. Reducing their pay significantly and not allowing them to spend on stuff they want rather making them spend on their debt.