If you're very young and you know you can recoup that losses easily (e.g. your career has significant pay raises and you have a very popular degree like computer science and are half competent), I'd do it. These people have no issues finding employment and LL is not much more than a 1 year setback financially, which is nothing. If you're like going to be homeless after this and all you work at is McDonald's with no degree and that was like 5 years worth of savings and theres no potential for salary raise, I wouldn't do it. Unless you're like under 25, in which I would still do it, YOLO.
As an anecdote, the majority of successful LL diaries (excluding ones with complications) I read have one regret and one regret only: Not doing this earlier. Take that for what you will.
Like Indian said, you can get back money in the future, but can't get back time. Chances are, if you're on this forum, height neurosis screws with your baseline happiness on a daily basis (exception of covid where we don't go out and see others). If you don't have height dysphoria/neurosis then nothing I say applies anyways/ why are you even on this forum lol.
It's up to you, but remember your parents aren't suffering height dysphoria, you are. You don't need permission from them to do what YOU think is best for you.
Tldr; unless you're literally gonna go homeless afterwards, it's not an unreasonable decision to spend a significant chunk of your money doing LL especially if you're in your early to mid 20s. My opinion.