I was fortunate enough to get financial aid for college that included room and board-- but didn't allow pets. My lovebird stayed home with my mom for the first 2 years, but this was the first time in her life she was living alone and she didn't want any responsibilities. She tried to get me to rehome the bird, but I was able to convince my dad to take her for the other 2 years. He and I didn't have a good relationship, but I thought it was better than the alternative when I could get her back when I graduated. He had a pair of lovebirds and an african grey so certainly capable of adding another lovebird to the flock.
It worked out reasonably well in that I did get her back and had her for another 7+ years after college. Unfortunately she came back to me with feathers missing from the back of her neck and it turns out she caught PBFD while living with them. One of the lovebird pair died unexpectedly, so I don't know what exactly happened. In retrospect I maybe should have figured out something different, but I was pretty desperate so I'm not sure what.
It's definitely worth planning for, but circumstances also can change midstream and you have to do what you think is best!