What is meant by "party scene"?

Harvard has an overall A+, with an A for its party scene. My kid’s school is also an A+, but has a B for its party scene. Both colleges have smart students who aren’t afraid to appear smart. U Chicago, with its infamous and unofficial slogan “where fun goes to die” even manages to scrape up a B for its party scene.

Again, take Niche ratings with a grain of salt.