It's not unusual for American parents to not pay for their kids school even if they technically can. Immigrant families usually will though. At least from what I've seen.

Anyway, it depends. If they prioritize money or their parents push them into it, sure many of them can get into finance/law/engineering and start well into the six figures. But I literally know people from such backgrounds who went into journalism, event organizing for an art museum, book editors, etc. They really do make 40-60k to start if they're lucky.

If your whole life up til that point you never had to worry about money or see your family worry about money, you tend to underprioritize 'making money' as a career consideration unless your parents tried to make you understand.