In my experience this is all good and well until you're bombarded with homework and exams. Sure, university would be a great and magical place without them, but

In my experience this is all good and well until you're bombarded with homework and exams. Sure, university would be a great and magical place without them, but when you're given assignments that could easily fill a week's "free" (read: not in classes) time, each week, then the fun and games stop. You might say that this is a learning experience on its own - how to cope with heavy workload. But: a) when I look at myself and at others it definitely means that at some point you start to study for the sake of studying, not understanding b) I could (arguably) create more value for my life and possibly the world, as well as learning to cope with pressure, by investing so much energy in other endeavors