Maybe slightly more, but not drastically so. About 15 per 100,000 college students die each year from alcohol --- poisoning, motor vehicle accidents, other alcohol-related accidents. Compare to a death rate of about 30 per 100k people aged 18-35 infected with COVID-19 (and it's much lower in the 18-24 set than the entire 18-35 group, but we don't have a good number for how much lower).
And it's not like 100% of students are going to catch it in an academic year (some have already had it, herd immunity, etc).