Most schools, if going back in the fall, are doing a reduced number of people on campus, no shared kitchen, no shared dorms. A mixture of in-person for classes that need it and are allowed on campus (labs) and online for big lectures that don't. The reports I've seen from various schools seem extremely well thought out from that aspect. I do think, as you said, the hardest things is partying and how you can possibly crack down on that.
I am saying they will party whether they are at school or not at school. At least if they are at school they are just partying together, and then going back to the same dorms or houses together. When not at school, they go back to the community at large and infect everyone else. Might as well somewhat contain them.
