Yep, I'm a UCSB grad. There was always the potential for distractions, but I managed to stay focused.
As in any competitive institution you HAVE to stay focused of your studies at UCSB or you will end up somewhere else. Many don't understand that the difference at UCSB is that you can go from work to fun quickly there (since the campus is on a beach), rather than spending time travelling to go do what all undergrads do - play a bit from time to time.