Depending on what program you go into, you might end up having to work yourself stupid at times.
I'm doing Chemistry, got basically a full-ride scholarship, but the sheer volume of work pretty much limits the social opportunities to about 1 or 2 nights a week.
If you're looking to be wild, get into residence your first year. I'm in my first year and I'm not in residence, I live in a house with some other students. Residence isn't my thing.
Residence also offers, from what I've heard, VERY little privacy. But it depends - most places offer 'apartment-style' residence now, which is basically like an apartment shared by 2 or 4 people or whatever, and that's pretty solid stuff.
But back to what I was saying...be prepared to do schoolwork, especially if you need to keep up your average to keep your scholarship. I've found basically the work isn't any more difficult than stuff from high school, but it's just a LOT more - very time-consuming stuff. Especially when the tests come all at once - having to write 5 tests in 2 days is NEVER a good thing.
But whatever you do, don't live at home. Living away from home is the best thing that's ever happened to me - you'll mature 8 years in 8 months.
By all means, party hard - but keep some sort of a lid on it, because 1st year is the hardest, teachers design their tests and courses to flunk you. Basically they want to weed out the bad from the good, so at least pass first year
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Socially, I've got good news - everyone is a lot more mature. You'll be dealing with adults basically, not teens. Everyone gets more mature, and this is VERY good if you ever got tired of the constant ridiculous teen drama that everyone loves to engage in.
And yeah, you'll probably be able to get some sex. My buddies in residence can pull girls like champs, and they have very little skills. Basically, there's going to be a lot of girls looking to get a little wild.
Oh yeah, and for some reason, it seems like there's a lot more ugly people in university. No joke, for some reason it just seems like a lot of people have gotten downright abused with the ugly stick.