Yes, it’s a wonderful place be in.
First off, you get to meet and stay with people from very diverse backgrounds and cultures. That, in itself, goes a long way in broadening your views.
Clubs and Departments bring rich experiences and an opportunity to take part in a variety of activities, each one unique and fulfilling.
Academic freedom and flexibility allows you to explore and probe the depths of your own engineering/science stream or literally any stream of your choice. One of the very good competitive coders I know, is from Electronics and Electrical Engineering, yet he has been able to dig deep into computer science. He even attends some of our lectures if he finds the courses interesting.
All in all, it’s a great place to be. It transforms you from an engineering student to a an amazing,confident individual with a unique outlook on life.