College is one those transitional experiences, a short retreat after high school, before you are thrown into the "real world". You can let loose, party, be free--and learn some interesting things along the way. It's a luxury experience and you pay a lot for it. But it's hard for me to deny that experience or say with a straight face that you're not missing anything.
Since when is tertiary education a vacation? In Germany universities don't hesitate to throw their students out with harsh exams. If you let loose and be free you are going to be sorted out. Of course, there is a difference. You aren't a paying customer in Germany so there is no incentive to baby sit you.