Westfalias retail for upwards of ~$50,000, with 1980's models still fetching upwards of $15,000...
If the Elio [1] can retail for $6,800 new, it's not a stretch to imagine a modern minimal camper-motorcycle/tuktuk/scooter for under ~$20,000... models for countries with less regulatory requirements like India or Asia regions might have much less expensive versions.
Westfalias are expensive because they are a bit of a fetish item. I have a 2000 converted camper van (pop top, fridge, solar panels, stove, running water) that I bought for 13k. It's still expensive, but not compared to a tempermental westfalia that's 20 years older.
I assume it's somewhat due to the slim form factor?
There are ford/dodge van campers but they're cumbersome compared to the slimmer Volkswagen Westfalias and similar early Toyota TownAce models. Westfalias have a much larger userbase and parts aftermarket though.
I don't know about college students in the US, but German students live pretty cheap in shared flats. I pay 350 Euro for my share of an inner city Wilhelminian apartment house. It goes down to maybe 200 Euro. I can't see this to be a bigger problem in developing nations.
I'd consider those mobile homes for the mobility though..
https://en.wikipedia.org/wiki/Volkswagen_Westfalia_Campers