Yes that is quite true. But many often don't realise that there are other expenses besides the high tuition fee. And it also shows the extent people can go to simply get into a good B-school.
I think many individuals spend a ton of money on their pursuit of the magic bullet for getting into a top B-school. I know I almost went in for some of the programs out there, with all of their swanky promises, testimonials, and statistics. Still, read the fine print.
I still have my days when I doubt my application, but in the end I'll just be confident in myself, my accomplishments, and my goals. I'll lay all my cards on the table at the interview and see what happens. If I don't get in somewhere awesome, well at least I can always say I did my best. I can't demand anything more of myself, let alone plopping down thousands on prep stuff, consultants, and application gurus that may or may not be worth it.
I think the article is good to read, just to reinforce the fact that there may be a bunch of hidden expenses. I definitely believe that people should have as much information as possible when they start down this road. Forwarned is forearmed!