I admittedly haven't personally used Tinder, so do correct me if I am wrong, but from what I have learned from reading about it and listening to others who have used it, Tinder seems more like the high school mating pool. Which is to say that you get everyone who happens to live within some geographic area thrown into a pile and leaves you to sort through the mess.
The upsell from colleges is that they filter out the "undesirables", for lack of a better way to put it, and bring the desirable people together from around the country and even the world. The more entrance requirements placed on the students, the more desirable the school is to attend for access to the highest calibre mating pool.