No, that's not the reason. For most students - everywhere and at all times - it isn't that big a deal. "Girls Gone Wild" is not representative of the college population.
You're right, of course. I don't remember even hearing about such a thing as a spring break, though. It wasn't a concept I was familiar with until about the last few years or so, watching news on TV with college kids swarming the streets and bars and wreaking havoc.