Absolutely. Here's a list of some college benefits:
-Learn nothing with worthless courses.
-Learn deadly postmodern ideologies which will take years for young skulls full of mush to unravel.
-Learn a host of vices, from promiscuity to drug and alcohol abuse, deadly habits which will be hard to shake.
-Learn that your parents' religion is backwards.
-Lose four years of earnings.
-Lose four years of work experience.
-Lose four years of apprenticeship.
-Lose anywhere from $0-$200k on tuition & expenses.
-Develop an entitlement mentality.
-Develop laziness and poor work habits.
-Develop an antipathy toward any kind of authority.
There are probably many more that I've forgotten at the moment. I DON'T want my kids to go to college, unless it's one of ten orthodox Catholic colleges, and even then, I'm ambivalent about it.
I am very ambivalent about college for my children.
I think the best thing for them is to get a college degree without, actually, going to college (or at least not going to the traditional 4-5 year on campus route).
There are many other options today. A motivated, smart kid can put together enough credits to get a degree, plus get started on his working life, and avoid the downside of going off to college.
What you say is completely true, and an accurate description of the college experience for many, if not a majority, of students.
But its not always the way you have it. Right now I can think of many fine kids in college who are not wasting away their time. The important thing is for the student to have his or her head straight before they go away to college; thus, they know how to succeed in spite of the overwhelming immaturity and irresponsibility of the other students.
Actually, for a good student, I wonder if college is easier today than a few generations ago. If only a portion of the class actually studies, then those students who take their classes seriously are more likely to do well.