What many parents don't realize is that the "scholarship" that they are shooting for isn't that much money. Unless a kid is good enough to get a D1 full ride, the scholarships are just a way private small schools to get kids to come there for roughly the same price as public university. And even then the majority of the difference is financed as an academic scholarship which they would have received anyway.
Not sure it’s always so much of a money thing. More like the parents get a continuation of living vicariously through their children and an “in” to the highest levels of amateur sports.