I would agree it depends on which college and station...this is also a discussion I love...too many people say college stations should play "college music." Nobody can really define for me "college music." I have students who love country, others who love rock, and still others into classical and alternative. So, I 100% agree that a radio station that simply lets you entertain yourself, may be fun, but won't do a lot to help you get a job. If you are simply looking to get into radio, I might suggest you start knocking on doors now. You may have to go to a small market, or start out on a street marketing team, but you'll learn the business from the ground up. I personally think college is a great experience that will make for a well-rounded person with a good overall eduction that will help you in the long run. However, remember that college is going to be more than just working at their radio station and there are no guarantees you'll get a job once you graduate. Employers are still going to ask about experience FIRST.
Bottom line (in my opinion), if you're planning to go to college, GO. But select a school with a structured station. While in school, work at the school station, learn and ask questions, but also start knocking on doors for an internship or part time job at a professionally-run radio station (whether it is commercial or non com).
Good Luck!