The Economist took a look at some numbers related to alcohol and college:

• The more that colleges in Cambridge spend on wine, the better their academic results tend to be.
• This is probably because richer colleges are able to spend more on alcohol…and also programs that actually boost academic performance.
• Older colleges also attract more upper class students – the types who would enjoy wine and have the cash to give themselves an academic boost through extra tuitions and coaching.
• Most of the wine probably isn’t drunk by students anyway. It’s spent on functions for alumni to help raise money.

Read more over here.

Source: The Economist