I get your argument, but the cost is far past $1.
$11,110 per semester out of state for guaranteed tuition plan and $1,185 in fees.
in state is $1,185 in fees and $2,248 per semester.
So here are starting and mid-career salaries (medians) for different colleges:
http://www.payscale.com/best-colleges/best-engineering-colle...
And I guarantee you 100k a year buys you a MUCH nicer house in Atlanta than in LA (further skewing the value).