At first it was fucking awesome, but by the time I was a 2nd-year senior I really just wanted to hurry up and graduate.
Florida State here. I lived in a dorm freshman year and I loved it. Roomed with a buddy from high school, which is usually frowned upon, but we remained good friends and still do to this day. Tons of pranks, parties, clubs, concerts, football games, meal plans, and skipping classes to play NBA and NFL 2K1 on my Dreamcast, later to be replaced by Tony Hawk 2. I nearly failed out. Most of my friends did.
Second year I moved into an apartment with some of the guys from my dorm. It was mostly more of the same. That's when I started studying Japanese. I also started dating my Japanese teacher. She was a TA though, not a prof.
Third year was more of the same. I had a tighter group of friends and went out less, but we still did things like "Lost (the TV show) Nights" and "Poker Nights" fairly regularly. Instead of going to huge keggers in the forest I would go to a friend's backyard BBQ.
Later that year my roommate killed himself with a plastic bag over his head. No, I didn't get straight As because of it. He was depressed but it was still a pretty huge shock. His girlfriend was the one who found him. He was from my Japanese class, so my girlfriend/Japanese TA had also taught him. She was utterly destroyed by his suicide and broke up with me because of it. To this day I have no idea why, but whatever. I found solace in becoming a guild leader in Halo 2, and pretty much fell into a depression myself. I got super fat.
Fourth year I was still kinda depressed. I just played Halo all the time. I was constantly at home gaming. I almost failed out again.
By my fifth year I had made the choice to get my shit together. I lost a bunch of weight, and got my grades back on track. I managed to graduate and got accepted into the JET Programme. 5th year was serious business, I was at the library all the time. My closest friends were my study group friends from my major classes. I also got jumped that year by four guys in front of the library around midnight. They thought I had a laptop in my backpack. I very clearly remember thinking that if they got ahold of my notes, there'd be no way I could pass my finals, which meant that I wouldn't graduate, which meant I wouldn't be able to realize my dream of going to Japan. I know it was dumb and I should've just handed over my bag, but I fought them off instead. I took a pretty good beating, but I managed to hold on to my bag. Campus police did fuck all, but I scored huge sympathy points from my professors. I ended up acing every final anyways.
So yeah, ups and downs, but all in all I had a fantastic time. Go Noles!