Lived on campus for 2 years. Having moved out of home it was nice to have a community of other people around me and to also have a responsible adult (the college head) to come to in case of emergencies/problems. Made it much easier to adjust to living out of home because I didn't have to worry about getting myself to and from uni, I could just walk for 5 mins and be at my class. I'm not a party person so I can't speak for that side of things but I've heard the socialising side is good.
That being said, now I'm a 3rd year I'm happy I'm not living on campus. I think it made me a bit of a lazier student and this way I had to be a lot more organised in getting to class and scheduling my day. I couldn't just go home and watch TV or have a nap in between classes anymore. Overall, definitely a good experience and I'd do it again. Would recommend!