This is a very good answer.
I'll add to it a bit. It seems in any college you can find a party if you want to. At a party school there are just maybe more of them, not necessarily better parties. Typically it's just a bunch of people drinking cheap beer or mixed drinks with cheap liquor, listening to music that's pretty loud and tough to hear other people. As the night gets later people get drunker, sometimes people will throw up and have to be taken home. Sometimes someone'll find a girl to go home with and hook up with. Sometimes there'll be some random room in the house where people are smoking weed or maybe even harder drugs.
Big shoutout to the 'you're closer to a kid than an adult' comment. Make good decisions. If you see someone going way too much into the party scene, often times they end up screwing up their lives. They could get into selling drugs, or just fail a bunch of classes and switch their major to something easier. So do everything in moderation, try to make good decisions.