That may be the anecdotal truth, however nearly any student in the States would prefer to go to MIT or U of Chicago over San Jose State, though San Jose is far more of 'party school' than the aforementioned. Students do care about quality but a party school doesn't necessarily equate to a less serious school. The issue isn't party vs. academics it's about work-life balance. Medical students party very profoundly, however there's no doubt that they value their academics highly. As a current high school teacher, I have nearly daily conversations about college choices and the party aspect is way down on the list. Given a choice between a party school and a top-flight academic institution, nearly all of my admittedly small sample would pick the better academics. Of course, I admit to some selection bias because I'm an AP teacher and my students are far more driven than the 'typical' student.