I coasted through five years of college, graduating with a CS and Math joint-major, three internships, and 20 more credit-hours then I needed. I did the bare minimum of studying, and applied little to no time management skills (Unless you count the occasional half-assed assignment finished on Sunday night.) I spent more time worrying about World of Warcraft, then I did about the possibility of ending up on academic probation.

Compared to a 9-5 job, yeah, college was a five year vacation. There's no boss that will have nasty conversations with you, if your work isn't done, if you fall behind on assignments too much, you can just choose to not do them, and spend an extra hour or two cramming for the midterm + final. Nobody cares if you sleep through a class, or two, or seven.

... Obviously if you went to a difficult school, or don't have the social safety net of living with your parents, or you had to work full-time to pay for school, your experiences might be different.