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Location is everything, and as a student it is a true luxury to live on campus. You get all the benefits of having a short walk to class, but none of the loud neighbors or crazy bars. Engineering and Medical school are just around the corner, and once you cross Campus Drive, you're almost at the Ag school, Vet school, and Nat school.
You also end up being closer to the Downtown area of Madison, which means a much shorter walk to get all your chores done. And when it is time to go to school, you can walk and be there in no time.