Living on campus makes it easy to meet people, find people to study with, get help with assignments, or just talk to when you need to sort things out. You're close to all dining halls, the library, computer lab, all of your classes, and other other campus facilities. They are all within a five-minute walk from the residence halls.
Many students say they like living on campus because they feel like they're a part of it all.
Many studies of college students show that residential students not only do better in the classroom than do commuter students, but also have more time to devote to extra-curricular activities.