I do think that the whole "University party culture" thing has seriously warped our societal view of higher education.
There are ton of people who don't view college as anything but a chance to go wild for 4 years. When I enrolled it was obvious that around half the students there were basically just a bunch of children that were finally turned loose without parental supervision.
Heck I went to a state university with 7 students from my high school graduating class (only 3 of which graduated). One girl dropped out after 1 year, but got a fast food job right next to campus (4 hours away from home) just so that she could continue to party with all people still in college.