I go to a college so we don't have a common room.
For some people it's fun. For others, not so much.
My first college was great in that the canteen was huge, the library was damn good, it was big so there were always empty classrooms you could sit in and you were quite independent. But the teachers weren't close to students and therefore those of us who struggled sort of disappeared from their radars. It was tough **** if you needed help.
The one I'm at now has a rubbish canteen, rubbish library, rubbish buildings, the students are very bitchy but the teachers help out more and give more guidance to students who need help.
Overall, the first college was better for hanging around and was more relaxed. The second is only good if you need pushy teachers.
EDIT
Go to a sixth form or a very respectable college. The 'other' colleges are full of people you really don't wanna be around.