I went to college in the early '70's. My purposes were to avoid the draft; (I was #15 in the draft lottery that year and it was promised that everyone under #179 was going to get a free (probably one-way) ticket to Viet Nam); get drunk, stoned and otherwise messed up; and screw as many chicks who were inclined.
Did all of that. Enjoyed it. Have no regrets.
Would I have borrowed money or taken my parents' money to do all that?
No.