At least on my ISP in New York, I can run a speedtest to the auto-selected server and see 330Mbps, but switch to a speedtest server farther away (requiring actual Internet transit), and see the rate drop to 10Mbps. So it's all very impressive that I am paying for a 300Mbps connection to the ISP's colo. But it would be better if I was paying for a 300Mbps connection to the Internet.
(Having a speedtest server hosted by your ISP is a great debugging tool, so I'm not asking them to stop doing that. It's great for figuring out if the bottleneck is my local link layer (WiFi, broken switch?), my Internet connection (broken router? squirrel chewing through a cable?), or simply the ISP's peering choices.)
So in the college example, they're getting (perhaps) .1/100/300
I think if we could just agree on a way to advertise it, we'd be ahead of the game. Net access is becoming like buying PCs: full of jargon and product differentiators meant more to confuse the buyer than assist them.