I think snarlatron is right (back on the first page): it would be a good idea to lower the drinking age to 18. I went to a large state school when the drinking age was 18. In my observation, there was a lot less “extreme” drinking then. There was more social drinking. A group of friends would share a pitcher of beer, legally. Also, in those days, a lot of students turned 18 while they were still at home, and they stayed safe as they became of legal age to drink. Now there are problems with students endangering their lives by drinking multiple shots when they turn 21.
I am not sure whether the excessive drinking reflects an “in for a penny, in for a pound” thought among students that they might as well binge drink if they are going to drink illegally, or whether the stresses are just so much greater than they used to be, or whether there is some other explanation.