I am a senior in college, and I know what it is like to live in a constant party. I am the non-drinker of my suite, and 4 out of the 5 school nights, I have to deal with drunks. Though I live in a dorm on campus, which bans drinking, my roommates are always having the party in our room. Rather than be a snitch, I deal with it, and just shut myself in my room. These girls are good friends, and rather than picking a different group of roommates I have dealt with then for the past 2 years. I am a Christian on a very non-christian campus, so even if I were to pick different roommates, I wouldn't be getting much further. My funds are all student loans, so I really dont have much of a choice where to live. 
I guess the bottom line is no matter where you go to school, the drinking is always going to be an issue. You just have to know when enough is enough. I hear many say they don't want to miss out on the memories, but who's to say you are going to remember them the next day let alone in 10 years?