My roommate in grad school was a strength coach and he always said that the worst thing about steroids is They Work. I have heard rumors of different college wrestlers taking them but the problem is they are rumors. The NCAA has a serious problem with steroids just like all other sports leagues. I think steroids are rampant in college football.
Pretty much all football players of that calibar have used a muscle builder of varying levels of legality, otherwise it is a crapshoot getting to the size needed. We had one kid on my team who took some seriously risky muscle builders for football. He went from a scrawny 112 to one of the scariest looking 152's I have seen, and he was only 152 because he is around 5'6. But they didn't exactly make him a better wrestler hence I had skepticism I posted about earlier. Using steroids to go up a weight class definitely makes sense though.
You must be kidding about the actual cost. Steroids are plenty affordable, even by broke college kids. I have known a few college wrestlers in the Division I, II, and III levels that used steroids at one point or another, generally in the summertime to bulk up, so they have 9 months or so to clean it out of their system before nationals. A cycle of most steroids, which would be about 10 shots, would cost about 100-150 dollars. So I highly doubt it is the price of them that would turn any potential users off.
There is another side to steroids - as a recovery aid. See Floyd Landis in the Tour de France. He wasn't trying to muscle up (cyclists upper body musculature is proof of that), he was trying to recover from a really hard, really bad day. It worked, and he smoked the competition the next day. And was out soon after. I could easily see wrestlers take them to recover over night in some of the tournaments where you get 5 or so matches a day. The question then would be, would they get caught? I'm not familiar with in-tournament testing at the high school and college level. I expect it is absolutely zero in high school and basically zero in college except for maybe the medal placers in NCAA's.
What does get more expensive (from what I have heard) is the good methods for avoiding short-term detection (ie. what Landis and others were doing). I don't think the knowledge and budget for beating testing are around enough college wrestling programs to try to use it during a tournament.