Why is University so wanted? Can someone tell me why? I've never played it myself so I'm interested.

It is like another life stage. It also where I like to let my sims party, get into trouble, meet new Sims, etc before they have to get serious about jobs and such. I had more fun with 2 than 3. Not being able to send all the neighborhood kids to college at the same time was a bummer. If it is like Sims 3 where I can only send one household at a time, I might not bother with it. I hope they really think about the rotational players this time. Seasons was hard enough trying to make it work on a rotation.