In my imagination:
A red-brick college town filled with parks, libraries and coffee shops. Occasional club and pub for going out. Loads of different activities, like going to the cinema, bowling and ice skating. Nice landscape set in the hills.
Complete freedom to study whatever you want, like a liberal arts degree but with more focused modules (i.e not being limited to pure humanities).
Exams/Coursework being regular, and therefore no need for a huge exam season that ruins the experience. Workload to remain constant and exams to be conducted electronically, rather than written.
Degrees cost-free and with those boringly long holidays being used to attend summer schools around the world. And cheap studio accommodation.
Oh and an eternal sunset...