Every state college around here still has a radio station, and a ton of people vying for the open DJ spots (usually 2 hours these days). But its mostly so they can get there favorites played, not to explore anything new. And of course these radio stations have to make the slots available for local non-college programs, too, so you still get genre-specific shows (jazz, various cultural shows).
When I did a thing on the 'local music' show on WUML (U Mass Lowell), I got to see the room full of CD storage cabinets - these were the CDs that people had brought into the station, logged into their system. Each CD has a sticker on it showing when it was last played (and how many times its been played). Thousands and thousands of them, most with 1 play shown. Then in the front room was a tall shelf full of 'local band' CDs - CDs that people had mailed in or brought into the station, hoping for play. They were stacked on tables, shoved in the shelves - none ever played.
Do the U Mass Lowell students listen to the station? Probably only if they have a friend doing the DJ slot. The rest of the time, they're streaming music on their phones (I see them with earbuds, holding their phones every time I drive by the campus).
On the other hand, there is an active college live music scene - but all the bookings are done through specialized management teams, and the pay is quite good for bands/artists. Who these booking agents are, and how you get on their lists - I have no idea.
My reverbnation site: http://www.reverbnation.com/mikebirchmusic