Depends on the class and individual students. There were many students at my LAC and the Ivy grad classes I took who managed to read EVERYTHING assigned without skipping a beat.
Even in an undergrad semester when I had ~1400 pages of reading a week along with a 5 credit foreign language class, I managed to complete them all without issues while holding a part-time job and having much more free time for ECs/hanging out with friends than I did as a public magnet HS student.
Not necessarily. For instance, a regular course at Columbia University’s is 3 credit hours and the typical courseload is 4-5 classes(there are some semesters when one will need to take 5 to finish undergrad in 4 years).