A university should have no responsibility other than to teach and to provide a secure learning environment. If a law is violated that disrupts the educational effort or threatens the safety of people or property, the police should be called and the offender should become familiar with due process, just like anyone else. I don't see this as a matter of being for or against alcohol or a drinking age, or of whether schools should seek to play some role in counseling students regarding dangerous behavior, but of whether in these lawsuit-happy days we want to see our precious institutions of higher learning held accountable any more than necessary for the foolishness of students. Why, the endowed institution, of course. Or, in the case of a state school, you, the taxpayer.
College kids drink.
Some of them drink a great deal. Some of that drinking ends tragically. In recent months we have read in the news of several fatal fires in housing units owned by universities or by groups affiliated with universities. Make whatever moral argument you want. Just don't send me the bill.