CHL does not pay for all colleges, for all of college, or for all players.
Canadian kids generally get around $10k for each year they play and US kids around $15k. Can be a little higher if only available options available to student-athlete.
If they complete CHL eligibility as member of team, they get access to these scholarship funds. They then have one-time chance to activate their scholarship account within 18 months. On 19th month, they lose it. The account then pays for 1/4 of balance for next four years directly to school. If a student misses a semester or year, it stops paying. If student ends up on 5-year plan, it still only pays 4 years.
Less than half of CHL players ever get access to their funds.
The average cost of tuition in Canada is $7-8k.
In the USA, it is twice that for public universities and 4x that for private. Some can be as high as $90-100k per year.
So for kids that are getting 4-year full ride scholarships, it still is not really appealing compared to the alternative. If it is more comparable to smaller, limited, academic scholarships at Division III schools.