Sorry this is so long lol
I got Kaizer as a 14.5 year old. Young yeah, and honestly, it took me over a decade of just general dog research, and then breed specific research, and then a year on top of that for breeder research before I was even comfortable approaching the idea with my parents.
I started reading the AKC Complete Dog Breed Book when I was 5 (I've always been an avid reader - practically came out of the womb reading Harry Potter), and by the time I was 10, I had a pretty decent knowledge on various breeds, and dogs as a whole.
It took me up until about March of 2014 before my mom agreed to get a dog. With both my parents growing in India, they're quite wary of dogs in general. My mom didn't want to be responsible for the dog, she thought that I'd get bored of caring for the dog quickly and it'd be left up to her to care for it. In a way, I agree. At a young age, there was no way I could've cared for any other living animal, I could barely take care of myself.
After I did some research on breeders and what to look for with them, I started contacting breeders. I was the one in main contact with them, not my mom or my dad. Obviously the breeder did talk to my parents, but I filled out the applications, had the conversation with the breeder, etc. etc. I am extremely lucky to have found a breeder who had enough trust from the conversations we had to trust me with a puppy of hers.
I take care of Kaizer by myself. I feed him, take him out, play with him, train him, walk him, exercise him etc. by myself whenever I'm home (its a different issue when I'm at school). I don't go out on the weekends, if I want to hang out with a friend, they come over. I wake up at 5:30 in the morning to walk him, sometimes I can convince my mom to ditch the gym and take us to the park. This is coming from a person who loves sleep and can easily sleep until 3pm with no problem. I'm even planning on titling him in as many things as I can. My parents do the most important part though, they pay for everything

As of now, I'm too young to get a "decent" job and therefore my income is close to none. When I get a job, I'm going to start pitching in, buying food, toys, helping with vet bills, whatever I can.
So my point? It's to say that a younger person is capable of raising a puppy. I think that I'm doing a pretty good job with Kaizer, I mean, he's an AKC S.T.A.R. Puppy, he sits when we pass people, he's fairly good on leash even at 6months, he's learned to love being outside, his recall is somewhat decent, his house manners are progressively getting better, his tail is always wagging and his eyes are always bright. I don't want to seem like I'm not giving my parents any credit, because they do a great job of taking care of him while I'm away. But I trained him myself, and I'm immensely proud of that. So yeah, a younger person can raise a puppy, and do it right.
I do think, though, that you being in college is probably really different than my being a sophomore in high school. For one, I have a solid living place for the next 6-8 years of my life. Two, if I get a really good job out of college, great. if not, well both my savings account and help from my parents will take care of Kaizer's needs. Three, I'm not drowning in homework yet. Most of it I finish in school so I can leave my afternoon/evenings free for Kaizer (if you want to know how much time I spend with Kaizer per day, it's about 8+ hours on a school day, and 14+ hours on days off). He gets so much interaction with me + strangers, and new sounds and noises and situations. I don't know how busy you are as a college student, but there's so much more to owning a dog than a yard and the age of owner. I think it comes down to what you're willing to do for your puppy, and what kind of lengths you'll go to to give him the best life possible.
((P.S. Kaizer is technically a "family dog" and he is under my parents name))